• Coins MarketCap
    • Coins MarketCap
    • Crypto Calculator
    • Top Gainers and Loser of the day
  • Crypto Exchanges
  • Bitcoin News
  • Crypto News
    • Cryptocurrency
    • Blockchain
    • Finance
    • Investing
    • View all latest Updates regarding crypto
Monday, March 20, 2023
WIREOPEDIA
No Result
View All Result
Contribute!
CONTACT US
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
WIREOPEDIA
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
No Result
View All Result
WIREOPEDIA
No Result
View All Result
Home Blockchain

Vulcan Forged Platform Suffers Security Breach, 96 Wallets Compromised

wireopedia memeber by wireopedia memeber
December 14, 2021
in Blockchain, Crypto, Crypto Market, Cryptocurrency, Finance, Investing, Market
0
Vulcan Forged Platform Suffers Security Breach, 96 Wallets Compromised
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

vulcan

You might also like

Binance’s BNB Emerges Top Gainer Among Large Altcoins, Here’s Why

Users Beware: Harvest Keeper dApp Rugpull Claims $1M in Losses

Crypto Stories: Scott Melker tells the story of how he became The Wolf of All Streets

Vulcan Forged, a gaming and NFT platform, suffered a security breach that allowed attackers to gain control of some cryptocurrency wallets of the service. The hackers got hold of 96 user wallets and managed to steal more than 4.5 million PYR, the native token of the project, among other assets. Vulcan is now dealing with the aftermath and announced it would reimburse all users with funds from their treasury.

Vulcan Forged Wallets Hacked, 4.5 Million PYR Stolen

Vulcan Forged, a blockchain gaming platform with an NFT market, suffered a security breach on December 13 that allowed attackers to gain access to the private keys of some users. According to early reports, the attackers managed to compromise the keys of 148 wallets, holding 4.5 million PYR, the native token of the project, and other crypto-assets such as ethereum and matic.

Later, the platform stated that just 96 wallets were affected. Vulcan also stated that, due to this hack, they were moving to a fully decentralized wallet platform from now on. According to reports, the 4.5 million PYR stolen was worth as much as $100 million at the time of the incident. However, the event made PYR prices dump, losing 27% of its price in the last 24 hours at the time of writing, according to Coingecko.


Vulcan to Reimburse Stolen Funds

The Vulcan team was quick to react and clarified the situation with its userbase stating that they would take full responsibility for the issue. Any funds in PYR and other tokens such as ethereum and matic present in the vulnerable wallets would be reimbursed with the equivalent value in PYR.

The platform sent emails to users and directed them to set up Metamask wallets to hold these assets by themselves, not relying on any centralized wallet manager. Vulcan has since stated it has reimbursed the majority of users affected by the hack. The Vulcan team is also working to find out what caused the security breach, as well as stopping the tokens stolen from being traded on centralized exchanges. It stressed:

We have isolated the tokens stolen from all CEX exchanges. We are working to identify footprints.

In addition, Vulcan noted that some of the wallet addresses involved in the hack could have completed KYC on some exchanges, though nothing more has been said regarding this. This is the third hack to affect centralized crypto platforms in December, with exchanges like Bitmart and Ascendex also suffering heavy losses due to such events.

What do you think about the Vulcan Forged centralized wallet platform and this hack? Tell us in the comments section below.

Read Entire Article
Tags: BitcoinBlockchainCoin SurgesCryptocurrenciesMarket StoriesTrading
Share30Tweet19
wireopedia memeber

wireopedia memeber

Recommended For You

Binance’s BNB Emerges Top Gainer Among Large Altcoins, Here’s Why

by wireopedia memeber
March 20, 2023
0
Binance’s BNB Emerges Top Gainer Among Large Altcoins, Here’s Why

While the rest of the crypto market has been in an upward trend over the past week, Binance Coin (BNB) has emerged as the top gainer among all...

Read more

Users Beware: Harvest Keeper dApp Rugpull Claims $1M in Losses

by wireopedia memeber
March 20, 2023
0

The growing popularity of the crypto market has brought it under the radar of many scammers, such as Harvest Keeper They create Ponzi schemes that lure potential and...

Read more

Crypto Stories: Scott Melker tells the story of how he became The Wolf of All Streets

by wireopedia memeber
March 20, 2023
0
Crypto Stories: Scott Melker tells the story of how he became The Wolf of All Streets

Crypto analyst Scott Melker talked about his journey as a trader and how he found the crypto space while working as a

Read more

Polygon, Immutable zkEVM to tackle ‘huge incumbents exploiting players’

by wireopedia memeber
March 20, 2023
0
Polygon, Immutable zkEVM to tackle ‘huge incumbents exploiting players’

Web3 gaming developers will be able to build on a new zero-knowledge Ethereum Virtual Machine that aims to increase

Read more

Price analysis 3/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

by wireopedia memeber
March 20, 2023
0
Price analysis 3/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system

Read more
Next Post
Apple and Google ‘duopoly’ criticised for ‘vice-like grip’ over mobile devices

Apple and Google 'duopoly' criticised for 'vice-like grip' over mobile devices

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

Former Radio One DJ jailed for 12 years for child sex offences

Former Radio One DJ jailed for 12 years for child sex offences

March 10, 2022
Ethereum Classic soars 100% in nine days  outperforming ETH as ‘the Merge’ approaches

Ethereum Classic soars 100% in nine days outperforming ETH as ‘the Merge’ approaches

July 22, 2022
Inside the blockchain developers’ mind: Building truly free-to-use DApps

Inside the blockchain developers’ mind: Building truly free-to-use DApps

April 10, 2022

Browse by Category

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World
WIREOPEDIA

Wireopedia is an automated news feed. The Wireopedia AI pulls from sources with different views so you can see the various sides of different arguments and make a decision for yourself. Wireopedia will be firmly committed to the public interest and democratic values.

Privacy Policy     Terms and Conditions

CATEGORIES

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World

BROWSE BY TAG

Bitcoin Bitcoinist Bitcoinmagazine Blockchain Blockonomi Breaking News Business BuzzFeed Celebrity News Coin Surges Cointelegraph Cryptocurrencies Cryptoslate Defense Entertainment Health Care insidebitcoins Market Stories newsbtc Politico Skynews Strange Technology Trading UK US World

RECENT POSTS

  • Four more Oath Keepers convicted of Jan. 6 felonies
  • ‘I’m taking the stand!’ Headteacher to refuse Ofsted inspection following Ruth Perry death
  • Three men found guilty of rapper’s murder
  • Binance’s BNB Emerges Top Gainer Among Large Altcoins, Here’s Why
  • Users Beware: Harvest Keeper dApp Rugpull Claims $1M in Losses

© 2022 WIREOPEDIA - All right reserved.

No Result
View All Result
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
  • Contribute!

© 2022 WIREOPEDIA - All right reserved.

  • bitcoinBitcoin(BTC)$28,077.00-1.08%
  • ethereumEthereum(ETH)$1,766.62-3.61%
  • tetherTether(USDT)$1.010.40%
  • binancecoinBNB(BNB)$339.63-0.59%
  • usd-coinUSD Coin(USDC)$1.010.35%
  • rippleXRP(XRP)$0.378263-4.47%
  • cardanoCardano(ADA)$0.336217-4.46%
  • staked-etherLido Staked Ether(STETH)$1,760.74-3.91%
  • matic-networkPolygon(MATIC)$1.12-7.03%
  • dogecoinDogecoin(DOGE)$0.071828-6.02%
  • solanaSolana(SOL)$22.25-0.46%
  • binance-usdBinance USD(BUSD)$1.010.54%
  • polkadotPolkadot(DOT)$6.19-6.04%
  • shiba-inuShiba Inu(SHIB)$0.000011-5.41%
  • tronTRON(TRX)$0.065917-2.06%
  • litecoinLitecoin(LTC)$80.26-6.55%
  • avalanche-2Avalanche(AVAX)$16.92-5.89%
  • daiDai(DAI)$1.000.18%
  • uniswapUniswap(UNI)$6.27-5.46%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,055.00-1.12%
  • chainlinkChainlink(LINK)$7.17-1.21%
  • cosmosCosmos Hub(ATOM)$11.68-8.99%
  • okbOKB(OKB)$45.91-5.08%
  • bitcoin-cashBitcoin Cash(BCH)$131.33-4.09%
  • filecoinFilecoin(FIL)$5.78-7.83%
  • stellarStellar(XLM)$0.087396-1.48%
  • crypto-com-chainCronos(CRO)$0.072205-0.45%
  • nearNEAR Protocol(NEAR)$2.01-8.34%
  • vechainVeChain(VET)$0.023409-4.70%
  • algorandAlgorand(ALGO)$0.211394-5.72%
  • elrond-erd-2MultiversX(EGLD)$46.734.26%
  • axie-infinityAxie Infinity(AXS)$8.63-7.16%
  • terra-lunaTerra Luna Classic(LUNC)$0.000128-5.96%
  • compound-ethercETH(CETH)$35.63-3.20%
  • ftx-tokenFTX(FTT)$1.91-20.60%
  • terrausdTerraClassicUSD(USTC)$0.022523-5.48%