The Hong Kong Police Cyber ​​Safety and Expertise Crime Bureau (CSTCB) launched the CyberDefender Metaverse platform at the side of the inaugural on-line occasion Exploring the Metaverse.

This initiative educates folks concerning the threats and alternatives of the web3 and meta. It additionally goals to boost consciousness of recent technology-related crimes and supply members a singular expertise.

CyberDefender Metaverse launched three digital areas to the general public: CyberDefender Metropolis and Web3 Gallery and Auditorium. The gallery has obtained greater than 350 guests and the web occasion has attracted greater than 120 younger college students, academics and oldsters for the reason that platform’s beta testing started.

In response to the press launch, in 2022, 2,336 circumstances of crimes associated to digital property have been registered in Hong Kong, amounting to greater than 1.7 billion. The variety of circumstances in Hong Kong has elevated considerably this yr. There have been 663 circumstances and a loss restrict of $570 million: 44% and 75% extra respectively in comparison with the earlier yr. These incidents reveal how cybercriminals exploit the general public’s restricted data of digital property.

Through the sharing session, CSTCB Chief Inspector Ip Cheuk-yu offered insights into the potential dangers within the metaverse and the significance of crime prevention. He identified that cybercrimes generally seen on-line, reminiscent of funding fraud, unauthorized entry to the system, theft and sexual crimes, also can happen within the metaverse.

In February, Interpol introduced its dedication to combating prison exercise within the digital world. She revealed her plans to create a safe server for regulation enforcement officers to research metaversion and perceive potential crimes and options.

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• TORN value dropped greater than 40%, falling from a excessive of $7.29 to a low of $3.55.
• This occurred after the Twister Money DAO accepted a malicious supply that contained an attacker bug.
• With full management over Twister Money’s administration system, the attacker started gathering locked votes.

The value of TORN has fallen sharply because the market reacts to cryptocurrency information of a malicious takeover of Twister Money.

Within the preliminary market response, the value of TORN plunged nearly 50%, with sellers pushing the token’s worth from $7.29 to a low of $3.55. Whereas additional losses are potential, the token rose to above $4.40 as consumers attempt to include the bears.

On the time of writing, Twister Money is ranked #1,103 by market cap on CoinGecko. It has a market cap of 6.8 million. USD, however a complete of 25.7 million had been traded within the final 24 hours. USD value of TORN.

Attacker maliciously hijacks Twister Money DAO

The value of Twister Money dropped after an attacker took management of the Twister Money DAO. The compromise occurred after the group accepted a malicious supply that the attacker used to empty funds from the administration treasury.

Twister Money is a cryptocurrency mixing service that runs on Ethereum. It was sanctioned by the US Treasury in 2023. February. The governance system controls the protocol updates and is managed by those that maintain the native tokens of the TORN venture.

in 2023 Might 20 the attacker allegedly added a further function to the replace supplied by TORN holders. This gave the unknown entity a further 1.2 million votes and efficient management over the cryptocurrency’s governance system.

On 2023-05-20 07:25:11 UTC, administration of Twister Money successfully ceased to exist. In a malicious bid, the attacker gave himself 1,200,000 votes. Since that is over ~700,000 professional votes, they now have complete management.https://t.co/nY87XmrYgT pic.twitter.com/h9qjc3xRqz

– @samczsun.com (@samczsun) in 2023 Might 20

As highlighted by the pseudonymous crypto intelligence account Samczsun, the management allowed the attacker(s) to withdraw 10,000 votes in TORN tokens. They bought them for $25,600 earlier than releasing the remainder of the blocked votes.

A complete of 483,000 TORN had been taken from the vault. 6,000 TORN had been deposited on the cryptocurrency alternate Bitrue, 379,000 had been bought on-chain for $680,000 value of Ether, leaving the attacker in charge of simply 100,000 TORN.

Following the compromise, Binance introduced it might droop TORN deposits till additional discover.

As a result of circumstances surrounding the protocol, #Binance will pause quickly $TORN deposits till additional discover.

— Binance (@binance) in 2023 Might 21

Tron founder Justin Solar stated TORN deposits and withdrawals on Huobi would stay open. Within the meantime, the Twister Money crew says it’s working to patch the vulnerability.