red LED light, a renowned crypto platform, and wallet, recently decided to pause any withdrawals due to “suspicious activity” noticed by users on their accounts. Fortunately, the platform assures its users that “all funds are safe” at this time. One of the people who noticed a suspicious transaction pattern within the platform was Billy Markus, the founder of the popular meme token Dogecoin.

Crypto enthusiast Ben Baller also noted a complaint to, saying that he lost about 4.28 ETH (or approximately $15,000 when converted) “out of nowhere.” In the same tweet, he wondered how the alleged hackers could bypass his two-factor authentication, which indicates that the perpetrators were somehow also able to evade the platform’s security features.

Unfortunately, cryptocurrency exchanges are prone to hacks and security breaches, among other things. This isn’t the crypto industry’s first time dealing with hackers and other suspicious activities. Immunefi, a decentralized finance (DeFi) security platform, discovered that scams, malicious activities, hacks, and the like surpassed $10.2 billion in 2021 alone.

According to the report, about 120 crypto exploits or rug-pulls occurred last year, with Poly Network taking the highest-valued hack at $613 million.

Previous articleIntroducing SkyArk Chronicles: A Play-To-Earn Game for RPG Lovers
Next articleInvesting in an NFTs: How to Begin Building a Portfolio