Noones is a crypto-peer-to-peer marketplace that suffered from a breach of security resulting in approx. $8 million worth of losses.
On Jan. 24, on-chain investigator ZachXBT noted that the exploit likely occurred between Jan. 1 and Jan. 2, with the platform’s hot wallets processing hundreds of questionable transactions.
He said that these transactions, which were each worth less than $7,000, totaled $7.9 millions and covered Ethereum, TRON Solana and Binance Smart Chain.
The stolen funds were subsequently bridged to Ethereum and BSC before being funneled to the crypto mixer Tornado Cash.
Noones did not respond to the security breach despite its severity. The platform instead announced routine New Year updates.
However, after ZachXBT’s revelation, Noones CEO Ray Youssef publicly confirmed the exploit in a social media post. He attributed the breach to a vulnerability in the platform’s Solana bridge, which the security team promptly addressed.
“He said:
“On Jan 1 there was an exploit of our Solana bridge. Our security teams quickly responded and the situation was immediately contained. User funds SAFU and personal data SAFU.”
Youssef has also revealed that the Solanabridge, currently suspended due to maintenance work, will be inactive for the duration of the comprehensive penetration testing. He also stressed that greater security is needed, and said the platform would not restore the Solanabridge until the testing was completed.
The Noones breach was part of an alarming trend in the crypto-industry.
Phemex confirmed on Jan. 23 that the platform suffered from a security breach which resulted to significant losses. It has been reported that the hacker group backed by North Korea was responsible for this attack.
Malicious actors swindled $3.6 billion of cryptocurrency last year. $1.3 billion of that was illegally laundered.
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