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Cyvers Detects $4.6 Million from Duelbits Crypto Security Breach

Cyvers, a blockchain security platform, has flagged several suspicious transactions originating from the popular crypto casino site Duelbits, suggesting a potential security breach. According to early insights shared by Cyvers CEO Deddy Lavid with crypto.news, approximately $4.6 million was transferred from Duelbits wallets on both the Ethereum and BNB chains to a suspicious address.

Initial analysis indicates that the security breach may have stemmed from a lapse in wallet access control, suggesting that private keys or access credentials to the wallets could have been compromised. The suspicious address then proceeded to convert various tokens into Ethereum, a common tactic employed by hackers to consolidate assets into a more liquid and widely accepted cryptocurrency, facilitating easier laundering or concealment of the trail.

Furthermore, assets on the BNB chain were bridged to Ethereum, indicating an attempt to transfer funds across platforms to obscure their origin. However, the hacker encountered a hurdle when attempting to swap all BNB for BSC-USD without factoring in the lack of gas fees required to bridge the funds to Ethereum.

To address this issue, the hacker utilized FixedFloat, a service enabling quick cryptocurrency exchanges, to acquire the necessary funds for the bridging transaction. As of the time of writing, Duelbits has yet to provide an official update on the incident.

This situation is currently under investigation and remains a developing story as further details emerge.

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