cryptojournalist
Uniswap Wallet Faces Serious Security Risk
A major flaw in Uniswap’s Web3 wallet has been uncovered by ScaleBit, a security firm under BitsLab. The issue lets anyone with physical access to a device bypass security and steal the wallet’s seed phrase—a unique set of words that gives full control over the wallet’s funds.
This vulnerability hasn’t been fixed yet, even in the latest app version. ScaleBit is urging users to keep their devices private and avoid lending them out until the issue is resolved. So far, Uniswap hasn’t commented, and the claims haven’t been independently verified.
Crypto Hacks Cost Billions in 2024
Crypto-related hacks and scams cost the industry $2.3 billion in 2024—a 40% increase from the previous year, according to security firm Cyvers. Most of the breaches happened due to weak security in centralized exchanges and custodians.
However, there was some good news toward the end of the year. Losses dropped significantly, with CertiK reporting $28.6 million stolen in December, compared to $115.8 million in October. PeckShield also noted a sharp decline, with hack-related losses down by 71% in December compared to November.
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