Crypto Security Roundup: Turkey Detains Hex Founder as Bridge and Wallet Thefts Hit Millions
Summary
Turkey detained Hex founder Richard Heart and seized $7.15 million. The roundup also covers a Cysic bridge exploit, thefts linked to fake Ngrave alerts, and Qubic's restart after a wallet flaw enabled cryptocurrency theft.
Key points
- Turkish authorities detained Richard Heart and seized $7.15 million in cash and six cryptocurrency cold wallets. He was wanted over suspected tax evasion and assault; authorities also linked the case to allegations of $1 billion in cryptocurrency fraud.
- An attacker exploited Cysic's cross-chain bridge to mint 10 million unauthorized CYS tokens and transfer about $727,000 in proceeds. Cysic suspended the bridge and said its main network and existing customer assets were unaffected.
- Fake security alerts in Ngrave's Liquid wallet app directed users to a site requesting recovery phrases. Bitquery estimated that 84 wallets across six blockchains lost $2.65 million; Ngrave confirmed its notifications were compromised.
- Qubic restarted its blockchain after attackers stole about $1.4 million in QU tokens from 1,404 accounts using a wallet flaw that produced predictable recovery phrases.
- Qubic said it fixed the flaw in web wallet version 4.26.4 and urged users of earlier versions to move funds to newly generated wallets. A recovery process is open, but compensation timing has not been announced.
Article Details
- Event Type
- Cryptocurrency security incidents involving a bridge exploit, phishing-related wallet theft, and exploitation of a wallet vulnerability, alongside the detention of Hex and PulseChain founder Richard Heart.
- Impact
- The incidents resulted in reported losses of approximately $727,000 from Cysic's bridge, an estimated $2.65 million stolen from 84 wallets after fake Ngrave alerts, and approximately $1.4 million in QU tokens stolen from 1,404 accounts. Cysic said its main blockchain network and existing customer assets were unaffected; Qubic halted transactions and later restarted its blockchain.
People
Vendors
Cysicin digital assets. This week, Turkish police detained Hex founder Richard Heart, attackers exploited Cysic's bridge to mint unauthorized tokens, fake Ngrave alerts led to $2.65 million in cryptocurrency thefts andNgravedetained Hex founder Richard Heart, attackers exploited Cysic's bridge to mint unauthorized tokens, fake Ngrave alerts led to $2.65 million in cryptocurrency thefts and Qubic restarted its blockchain after a $1.4Qubicbridge to mint unauthorized tokens, fake Ngrave alerts led to $2.65 million in cryptocurrency thefts and Qubic restarted its blockchain after a $1.4 million token theft.
Products
Cysic's cross-chain bridgeAn attacker exploited a vulnerability in Cysic's cross-chain bridge to create 10 million unauthorized CYS tokens, selling most of them and transferring approximately $727,000 in proceeds to Ethereum.Hyperliquidmoved approximately $2.16 million through cryptocurrency swapping services into 39 accounts on Hyperliquid, converting the funds into XMR1, a token linked to privacy-focused cryptocurrency Monero.Ngrave's Liquid wallet appHackers stole an estimated $2.65 million in cryptocurrency from 84 wallets across six blockchains after fake security alerts appeared in Ngrave's Liquid wallet app, said blockchain analytics firm Bitquery.