Layerswap, a platform that bridges transactions between centralized cryptocurrency exchanges and layer-2 blockchains, recently faced a security breach that resulted in the loss of approximately $100,000 from users. The incident took place on March 20 at 19:40 UTC when the layerswap.io domain was hijacked and users were redirected to a phishing site.

Layerswap regained control of its domain after the attacker attempted to reset the company’s social media account on another platform, locking them out. The hacker was able to maintain control of the domain for a period of time due to a slow response from GoDaddy, Layerswap’s domain provider. However, Layerswap eventually recovered access to their GoDaddy account and reversed the changes made by the attacker.

As a result of the sophisticated phishing scheme, around $100,000 in cryptocurrency holdings were drained from approximately 50 individuals. Layerswap has committed to fully reimbursing the affected users and providing an additional 10% as compensation for the inconvenience. The company has advised investors to revoke their token authorizations as a precautionary measure and has initiated the refund process for those impacted.

In a similar incident on the same day, hardware wallet provider Trezor fell victim to a cyberattack, resulting in the loss of at least $8,100. Cybercriminals sent deceptive messages about a non-existent “$TRZR” token presale on the Solana Network, leading Trezor’s followers to fraudulent websites designed to steal funds.

The United Nations Security Council recently released a report highlighting North Korea’s increasing involvement in cyberattacks, which have become a significant source of foreign currency earnings for the country. The report estimates that North Korea has acquired nearly $3 billion through cyber heists, emphasizing the vulnerabilities in the security measures of the cryptocurrency sector.

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