Analysis News TheBitTimes.com

There is growing concern about the number of crypto hackers using centralized exchanges to fund their attacks. In order to pay the transaction fees necessary to carry out attacks, hackers must first fund their wallets. However, given the transparency of a public ledger, they have to carefully consider how to do this without linking themselves to the crime. Tornado Cash used to be the industry standard for covering one’s tracks, used by hackers and privacy advocates alike. Now, it appears that in many cases, Hack ers simply opt to skirt their way around exchange s’ know-your-customer (KYC) procedures when funding their accounts. Blockchain monitoring firm Forta Network’s analysis of funding sources for recent attacks shows that the hacker’s favourite Tornado Cash now represents just under half the hacks studied , with funds coming from centralized exchanges (CEXs) in a third of cases. Other funding methods included novel privacy tool Railgun and ‘middleware operat...

Decentralized Infura will consist of Infura and a decentralized market of other third-party data providers. A de centralized version of Infura will launch by the end of the year, with major Web2 cloud providers set to become part of the network, the chief strategist of ConsenSys says. “We’re looking to launch something later this year, but then there’s going to be what they call a federated phase that they’re expecting to like to last of the order of six months,” ConsenSys Head of Strategy Simon Morris told Cointelegraph at Korean Blockchain Week, referring to a trial period while the network was still under centralized control. Infura is the access point for most DApps to access real-time on-chain data from the Ethereum blockchain, but given it is controlled solely by ConsenSys, it provides a single point of failure. In November 2020, the MetaMask wallet stopped working when Infura went down, and centralized exchanges and DeFi projects were affected too. Infura also came under f...