Cybersecurity firm Abstract has released a detailed report on the security breach at Cardex, which led to the compromise of 9,000 cryptocurrency wallets and total losses of $400,000.
How the Attack Happened
🔹 Targeted API Vulnerability – Hackers exploited a security flaw in the Cardex API, gaining unauthorized accessto user funds.
🔹 Meticulously Planned Attack – The breach was executed with precision, suggesting a well-coordinated effort.
🔹 Urgent Security Warning – Abstract stresses the need for stricter security measures and regular audits to prevent future incidents.
What Should Users Do?
âś” Transfer remaining funds to new, secure wallets immediately.
âś” Enable two-factor authentication (2FA) for additional protection.
âś” Monitor wallet activity for any suspicious transactions.
This incident highlights the growing risks in the crypto space, emphasizing the importance of proactive security measures.
