Mystery Hacker Targets DeFi but Returns Most Stolen Assets
- Attack Overview: The Verus-managed Ethereum cross-chain bridge was targeted by a hacker, resulting in the theft of 4,052 ETH valued at approximately $8.5 million, highlighting the security vulnerabilities within the DeFi sector and prompting a reassessment of security measures across the industry.
- Asset Return: Following intricate negotiations, the hacker returned most of the stolen 4,052 ETH to the Verus team, retaining 1,350 ETH as a ‘finder's fee’ worth about $2.8 million, which alleviated the financial impact on Verus.
- Root Cause of Vulnerability: The exploit was traced back to a flaw in the Verus-Ethereum cross-chain bridge, which the hacker exploited for unauthorized asset transfers, underscoring the critical importance and security challenges of cross-chain bridges in DeFi.
- Industry Impact: DeFi protocols collectively faced losses of approximately $634 million in April, and despite a reduction to $38 million in May, unresolved blockchain vulnerabilities continue to threaten DeFi trust and stability, prompting experts to advocate for enhanced security audits and cross-chain bridge defenses.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1788.504 | 1898.902 | 2010.714 | 2121.112 | 2232.924 | 2343.322 | 2455.134 |
| Fibonacci | 1898.902 | 1983.786 | 2036.228 | 2121.112 | 2205.996 | 2258.438 | 2343.322 |
About ETH
About the author
