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ZenGo uncovers 'red pill attack' vulnerability in popular Web3 apps

The vulnerability has since been patched, although it affected a number of leading transaction simulation vendors. According to a blog post published by developers of crypto wallet ZenGo, the firm said it had uncovered security vulnerabilities in, transaction simulation solutions used by popular decentralized applications, or dApps. Dubbed the "red pill attack ," this vulnerability allowed malicious dApps to steal user assets based on opaque transaction approvals offered to and approved by users. The vulnerability derives its name from the iconic "red pill" scene from The Matrix movie series.  "If malware is able to detect its actually being executed in a simulated environment or living in the matrix, it can behave in a benign manner, thus deceiving the anti-malware solution, and reveal its true malicious nature only when actually executed in a real environment." ZenGo claimed its research revealed that many leading vendors, including Coinbase Wallet,...

Amber Group acquires cryptocurrency platform Sparrow exchange: report

The news comes after Amber Group reportedly pulled back expansion plans due to financial exposure in the FTX collapse. Cryptocurrency trading firm Amber Group, which had roughly 10% of its trading capital stuck on FTX at the time of the exchange’s collapse, has report edly acquired crypto currency platform , Sparrow Holdings according to an announcement on Dec. 14. The Singaporean crypto platform Sparrow Holdings, which offers digital assets products and solutions, acquired its payments license from the Monetary Authority of Singapore in August, to provide Digital Payment Token (DPT) services in Singapore, under the Payment Services Act (PSA). Founded in 2018, Sparrow works with financial institutions and family offices in designing bespoke digital asset solutions to achieve customer-centric growth objectives, while maintaining compliance requirements.  Related: Amber Group uses simple hardware to show just how fast, easy the Wintermute hack was The news of Amber Group's acqui...