Hackers hijack smart contracts in cryptocurrency token ‘rug pull’ exit scams

From zdnet.com

Hackers are abusing misconfigurations in smart contracts to launch token rug pulls, researchers say. 

Despite the current volatility in the cryptocurrency market, with prices for many popular coins including Bitcoin (BTC) plunging, interest in the crypto, token, and NFT spaces remains stable. 

2021 was a record-breaking year for cryptocurrency-related theft and fraud. Cybercriminals netted an estimated $14 billion in cryptocurrency and fraudulent schemes involving digital assets continue to evolve.

Read more…