Forta Firewall Partners with Plume Network for RWA Security

A crypto whale lost **$3 million** in a phishing attack despite early warning systems detecting the threat. **Key Details:** - Malicious contract deployed on August 5 - Forta Firewall flagged it instantly upon deployment - Victim was drained just minutes after the contract went live - Attack was part of broader phishing trend affecting Ethereum **Context:** Phishing attacks continue plaguing the crypto space, with **$6M stolen in August alone** through 2,883 malicious contracts on Ethereum mainnet. All were detected by security systems, yet losses persist. **The Problem:** While detection technology exists and works effectively, the gap between threat identification and user protection remains a critical vulnerability in DeFi security.

**Regulatory compliance** is becoming a core requirement for blockchain networks, particularly regarding OFAC-sanctioned wallet transactions. Key points: - Transactions with sanctioned wallets pose significant regulatory risks - Compliance screening is now essential infrastructure for rollups - Forta Firewall offers a solution for OFAC screening implementation *Security and compliance* are emerging as crucial growth enablers in the on-chain economy. Forta Firewall provides tools to help rollups and protocols prevent potential security breaches and maintain regulatory compliance. Learn more: [Forta's Guide to OFAC Screening](https://www.forta.org/blog/why-ofac-screening-matters-in-crypto-and-how-forta-firewall-helps)

Forta's security monitoring revealed a significant phishing campaign on Ethereum Mainnet: - 1,069 malicious contracts identified - 181.5 ETH and 178 different tokens stolen - Total losses exceed $868K A detailed case study shows how one victim lost $59,000 in WBTC through a single malicious approval. The attack happened gradually: - Initial phishing transaction granted token approvals - Multiple small withdrawals to avoid detection - Victim remained unaware throughout the process **Key Security Tips:** - Regularly revoke unused approvals - Monitor wallet activity frequently - Verify all dApp interactions thoroughly *Remember: Most crypto thefts occur silently, one transaction at a time.*

A significant security breach has affected GemPad across multiple blockchains - Ethereum, BSC, and Base - resulting in a $2M loss through a reentrancy attack. The incident was detected by Forta Firewall's security systems. This attack follows a pattern of recent crypto security incidents, including: - Penpie's $27M reentrancy exploit - Onyx Protocol's $4.2M market manipulation - Bedrock DeFi's $1.7M smart contract vulnerability These incidents highlight the growing importance of preventative security measures in DeFi protocols. **Learn More**: Visit Forta's blog to understand how these attacks can be prevented.