Dec 28 2021

BlockSec Has Closed the Seed Funding Raising

We are glad to announce that BlockSec has closed the seed funding raising that was led by Fenbushi Capital, with participation from A&T Capital, Qulian, Impossible Finance, Incuba Alpha and NEAR MetaWeb Ventures.

Founded in 2021, BlockSec has served over 50 clients and has protected over thousands of millions worth of digital assets in this year. It has the online transaction virtualization system for both BSC and Ethereum (https://tx.blocksecteam.com) and Flash Loan monitoring system (https://versatile.blocksecteam.com/flashloan) for both Ethereum and Cronos.

The BlockSec Team focuses on the security of the blockchain ecosystem, and collaborates with leading DeFi projects to secure their products. The team is founded by top-notch security researchers and experienced experts from both academia and industry. They have published multiple blockchain security papers in prestigious conferences, reported several zero-day attacks of DeFi applications, and released detailed analysis reports of high impact security incidents.

Feb 9 2026

#1 Cetus Incident: One Unchecked Shift Drains $223M in the Largest DeFi Hack of 2025

Cetus Protocol, the largest concentrated-liquidity DEX on Sui, was exploited on May 22, 2025, resulting in an estimated ~$223M loss across multiple liquidity pools. The attacker leveraged a flaw in checked_shlw(), a custom overflow-prevention helper used in fixed-point u256 math, where an incorrect constant and comparison failed to block unsafe left shifts and caused silent truncation of high bits during liquidity delta calculations. By crafting specific liquidity and tick/price-range parameters, the exploit made required deposits appear near-zero while minting an oversized liquidity position, which was later withdrawn to drain real pool reserves.

Feb 9 2026

#2 Bybit Incident: A Web2 Breach Enables the Largest Crypto Hack in History

The largest crypto hack ever, the February 21, 2025 Bybit breach stole about $1.5B after attackers used social engineering to compromise a Safe{Wallet} workflow, injected malicious JavaScript into an AWS S3 bucket, tampered with the transaction signing process, and upgraded Bybit’s Safe{Wallet} contract to a malicious implementation that drained funds across multiple chains.

Feb 4 2026

Weekly Web3 Security Incident Roundup | Jan 25 – Feb 1, 2026

During the week of January 25 to February 1, 2026, six blockchain security incidents were reported with total losses of ~$18.05M. These involved improper input validation, token design flaws, key compromises, and business logic errors across DeFi protocols on multiple chains. The primary causes included unchecked user inputs enabling arbitrary calls, flawed burn mechanisms allowing price manipulation, compromised developer tools, and missing solvency checks in lending functions.