Thunder Terminal DEX Faces Ransom Demand Following $244K Hack

Thunder Terminal, a decentralized exchange, suffered a loss of approximately $244,000 in cryptocurrencies. The incident, a stark reminder of the vulnerabilities in the crypto industry, involved unauthorized access to a MongoDB connection URL. This allowed hackers to withdraw funds by exploiting user session tokens.

The breach is indicative of a growing trend where hackers target cryptocurrency projects, especially those with substantial total value locked (TVL). Such attacks underscore the critical need for heightened security measures in the sector. The stolen amount comprised 86.56 Ethereum (ETH) and 439.12 Solana (SOL), translating to around $244,000 at the current market rates.

In a proactive response, Thunder Terminal managed to halt the hack within nine minutes of its initiation. Their team is committed to reimbursing the affected users. However, in an unexpected turn, the hackers have issued a ransom demand of 50 ETH, threatening to retain user data unless paid.

This incident occurs amidst a series of similar attacks within the Decentralized Finance (DeFi) space. Just recently, a report said that the DeFi project Telcoin had lost around $1.3 million to hackers. The total sum stolen by cybercriminals in 2023 alone has surpassed $1.7 billion.

In response to these increasing threats, global law enforcement agencies are intensifying their efforts to combat crypto-related crimes. They are equipping themselves with advanced tools and training to effectively investigate and track on-chain criminal activities.