The Recent Cryptocurrency Security Incidents

The cryptocurrency sector has recently been hit with multiple security incidents, with Layerswap experiencing a domain hijack resulting in a $100,000 loss. The slow response from domain registrar GoDaddy exacerbated the situation. At the same time, ParaSwap’s DeFi aggregator was exploited, causing a $24,000 loss, and Dolomite suffered a $1.8 million loss due to an exploit in an old contract. Additionally, Steve Wozniak won an appellate court decision against YouTube, allowing him to pursue a lawsuit for spreading fake bitcoin giveaway videos using his image.

Layerswap Hit by Security Breach

Layerswap, a bridge between centralized crypto exchanges and layer-2 blockchains, fell victim to a major security breach. On Mar. 20, around 19:40 UTC, the company’s domain,, was hijacked, leading users to a phishing site. This resulted in a loss of about $100,000 in crypto assets from approximately 50 users. The breach was attributed to a compromise at the domain registrar level, with GoDaddy’s slow response time allowing the hacker to maintain control over the domain. Despite GoDaddy’s delayed action, Layerswap has committed to refunding affected users and providing an additional 10% compensation.

Crypto Thieves Target Dolomite

The Dolomite crypto exchange faced a security breach, resulting in a $1.8 million loss. The exploit targeted an old Dolomite contract, affecting users who had authorized approvals to this contract. In response, Dolomite urged users to revoke any approvals to the specific ethereum Dolomite address to mitigate further risks. The exploit utilized a vulnerability in the contract, allowing the attacker to drain funds from users. This incident is one of several security breaches in the crypto space in recent months.

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Wozniak vs. YouTube

Steve Wozniak secured a victory in an appellate court against YouTube over fake bitcoin giveaway videos using his image. This decision allows Wozniak to proceed with his lawsuit against YouTube for promoting these scam videos. The court ruled that YouTube could not hide behind Section 230 of the Communications Decency Act, potentially impacting legal protections for social media and video streaming platforms.

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