From Selection to Implementation: The Practice and Achievements of MistTrack in Hong Kong Cyberport's Blockchain and Digital Asset Pilot Program
Recently, as several authoritative media outlets in Hong Kong have successively published reviews and summaries of the first phase results of the "Blockchain and Digital Asset Pilot Funding Scheme" by Cyberport, the blockchain anti-money laundering tracking system MistTrack, independently developed by SlowMist and one of the shortlisted projects, has also received further recognition for its practical achievements in the field of digital asset security and compliance.
https://dw-media.tkww.hk/epaper/wwp/20251211/b01-1211.pdf Progress and Milestones of MistTrack Application
The "Blockchain and Digital Asset Pilot Funding Scheme" was officially launched in June this year, aiming to support exemplary and high-impact blockchain and digital asset applications in testing and implementation in real environments. The program has received enthusiastic responses, with over 200 applications submitted, of which only 9 projects were successfully shortlisted, involving asset scales exceeding 120 million Hong Kong dollars. The Director of Blockchain and Digital Assets at Cyberport, Li Yizheng, stated that nearly half of the shortlisted pilot products have successfully commercialized or are preparing for commercialization, demonstrating the program's significant effectiveness in promoting the implementation of innovative applications. Among them, SlowMist has been explicitly listed as a representative project for the "Digital Asset Security and Compliance Tool."
Cointelegraph Report: SlowMist Founder Cos Discusses the Core of On-Chain Security — Speed and Collaboration
Recently, the globally renowned blockchain media Cointelegraph published a special report titled (Meet the onchain crypto detectives fighting crime better than the cops), focusing on on-chain detectives and researchers in the crypto security industry. Cos (余弦), the founder of SlowMist, was one of the interviewees, sharing the team's handling processes in major security incidents, product system, and observations on the industry's security landscape.
Speed is the top priority for safety In the interview, Cos introduced SlowMist's standardized incident response mechanism. He pointed out that on-chain attacks typically have characteristics of "rapid spread, broad cross-chain impact, and very short windows," thus the response speed almost determines the upper limit of the final losses from the incident. "As soon as an incident occurs, we immediately activate the command center, aiming to quickly track, control, and issue alerts." In the command center environment, the team quickly divides tasks based on the attack path, such as on-chain tracking, infrastructure analysis, domain risk assessment, and secondary attack monitoring. As the incident progresses, trusted project parties, exchanges, partner teams, and victims will gradually join in to share intelligence, synchronize actions, while strictly controlling the risk of information leakage. Cos also admitted that professional security teams must take the lead in the early stages of an incident: "The involvement of law enforcement agencies is relatively slow; they need time to collect evidence, while attacks can cause significant losses in just a few minutes, so we need speed and must act before greater losses occur." This also explains why security teams in the industry often bear the earliest and heaviest response pressures.
$9 Million Stolen: Yearn yETH Pool Vulnerability Analysis
Author: Jiu Jiu & Lisa Editor: 77 Background
On December 1, 2025, the well-established decentralized yield aggregation protocol Yearn was attacked, resulting in a loss of approximately $9 million. Below is a detailed analysis by the Slow Fog Security Team regarding this attack incident:
Root Cause In Yearn's yETH Weighted Stableswap Pool contract, the logic of the function that calculates the supply (_calc_supply) used an unsafe mathematical operation approach, which allowed for overflow and rounding errors during calculations. This resulted in significant deviations when calculating the new supply and the product of the virtual balance, ultimately enabling the attacker to manipulate liquidity to a specific value and mint an unexpected amount of LP tokens for profit.
Beware of Solana Phishing Attacks: Wallet Owner Permissions Modified
Author: Lisa & Johan Editor: 77 Background Recently, we received a request for help from a user who encountered a phishing attack on that day. The user discovered unusual authorization records in their wallet and attempted to revoke the authorization but was unable to complete the process. They provided the affected wallet address 9w2e3kpt5XUQXLdGb51nRWZoh4JFs6FL7TdEYsvKq6Wb. Through on-chain analysis, we found that the ownership rights of the user's account had been transferred to the address GKJBELftW5Rjg24wP88NRaKGsEBtrPLgMiv3DhbJwbzQ. Furthermore, the user has had assets worth over 3 million USD stolen, and an additional 2 million USD worth of assets are held in a DeFi protocol but cannot be transferred (currently, assets worth approximately 2 million USD have been successfully rescued with the assistance of the related DeFi).
US, UK, and Australia Jointly Target Russian Cybercrime Infrastructure Media Land and Aeza Group
Author: 77 Editor: 77 On November 19, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), the Australian Department of Foreign Affairs and Trade (DFAT), and the UK Foreign, Commonwealth & Development Office (FCDO) jointly announced a new round of sanctions against several Bulletproof Hosting (BPH) service providers and related individuals in Russia. The reason is their support for cybercrime activities, including ransomware. The main targets of the sanctions include key figures from Media Land and its affiliated entities, as well as key members of Aeza Group and related shell companies. (https://home.treasury.gov/news/press-releases/sb0319)
Report Interpretation | MSMT Releases "DPRK's Activities Violating and Evasion of UN Sanctions through Cyber and Information Technology Workers"
Recently, the Multilateral Sanctions Monitoring Team (hereinafter referred to as "MSMT") published a report titled "DPRK's Activities Violating and Evasion of UN Sanctions through Cyber and Information Technology Workers." This report systematically outlines the full picture of the Democratic People's Republic of Korea (DPRK) utilizing cyber capabilities, information technology workers, and cryptocurrency activities to evade UN sanctions, steal sensitive technology, and raise funds. This article will summarize the core content of the report to help readers quickly grasp the development trends and changes in methods of DPRK's cyber threats, thereby enhancing awareness and prevention capabilities against complex cybersecurity threats.
MistTrack wins HKICT Awards 2025 FinTech Gold Award, setting a new benchmark for on-chain compliance
On November 21, the award ceremony for the 2025 Hong Kong Information and Communication Technology Awards (HKICT Awards 2025), organized by the Office of Digital Policy of the Hong Kong Special Administrative Region Government, was grandly held at the Hong Kong Convention and Exhibition Centre. SlowMist's blockchain anti-money laundering tracking system MistTrack won the Gold Award in the FinTech category (Regulatory Technology: Regulation and Risk Management).
SlowMist partner & CPO—Keywolf was invited to attend the ceremony and delivered an acceptance speech, witnessing this moment together with guests from the government, regulatory agencies, and the financial industry.
This award not only affirms the technical capabilities and practical application value of MistTrack, but also reflects the achievements of SlowMist's years of deep cultivation in the field of blockchain security and anti-money laundering, while providing strong support for the compliant development of Hong Kong's financial technology and digital asset industry.
Three Parties Stand Together: NOFX AI Trading System Vulnerability Defense
Background With the rising popularity of AI large model trading competitions, more and more crypto communities and developers are starting to experiment with AI-driven automated trading, and many open-source solutions are being rapidly put to use. However, these projects are not without security risks.
NOFX AI is an open-source cryptocurrency futures automated trading system based on DeepSeek/Qwen AI, supporting exchanges such as Binance, Hyperliquid, and Aster DEX. The Slow Mist security team received initial intelligence from @Endlessss20, suspecting that the system could lead to leaks of exchange API Keys, and thus began a security analysis.
U.S. Targets North Korean Cryptocurrency Money Laundering Network: Several Bank Officials and Multiple Financial Institutions Affected
Author: 77 & Lisa Editor: 77 On November 4, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced a new round of sanctions against several North Korean bank officials and financial institutions, freezing all assets of 8 individuals and 2 entities within the U.S. or controlled by U.S. persons. These individuals and entities are accused of raising funds for the North Korean regime through cybercrime, information technology (IT) labor fraud, and other means to support its nuclear and missile programs.
Event Review | SlowMist Appears at the 10th Hong Kong Fintech Week 2025
On November 3, the '10th Hong Kong Fintech Week 2025', co-hosted by the Hong Kong Financial Services and the Treasury Bureau, the Hong Kong Commerce and Economic Development Bureau, and the Hong Kong Invest Hong Kong, and jointly organized by the Hong Kong Monetary Authority, the Hong Kong Securities and Futures Commission, and the Hong Kong Insurance Authority, was grandly inaugurated at the Hong Kong Convention and Exhibition Centre.
As one of the world's leading fintech events, this year's Fintech Week is themed 'Driving the New Era of Fintech', attracting over 37,000 attendees from more than 100 economies, approximately 800 speakers, over 700 exhibiting organizations, and more than 30 international and mainland Chinese delegations, further confirming Hong Kong's strong appeal and innovative vitality as a global fintech hub.
Accumulated Feathers Sink the Boat - Analysis of Balancer's Over $100 Million Hack
Author: Kong & Lisa Editor: 77 Background On November 3, 2025, the established decentralized automated market maker protocol Balancer v2 was attacked, resulting in losses of approximately $120 million across multiple projects, including its forked protocols, on several chains, exacerbating the already struggling DeFi ecosystem. Below is a detailed analysis of this attack event by the Slow Mist security team: Root Cause In the implementation of Composable Stable Pool of Balancer v2 (based on Stable Math of Curve StableSwap), there is a precision loss issue in the integer fixed-point operations of scaling factors, leading to small but compounding price differentials/errors during token exchanges. Attackers exploit this error by making small exchanges under low liquidity to amplify the discrepancies for significant cumulative profits.
Meeting in Hong Kong | SlowMist will showcase at Hong Kong FinTech Week and multiple Web3 industry events
In November 2025, Hong Kong will become the global focus for FinTech and Web3. As a threat intelligence company focusing on blockchain ecosystem security, SlowMist will showcase at Hong Kong FinTech Week and multiple Web3 industry events, sharing the latest research findings and practical experiences around key topics such as blockchain security, compliance risk control, and anti-money laundering (AML). Hong Kong FinTech Week 2025 x StartmeupHK Entrepreneurship Festival Hong Kong FinTech Week 2025 x StartmeupHK Entrepreneurship Festival will be grandly held from November 3 to November 7 at the Hong Kong Convention and Exhibition Centre. As Hong Kong's premier innovation and technology event, Hong Kong FinTech Week 2025 x StartmeupHK Entrepreneurship Festival is jointly organized by the Hong Kong Financial Services and the Treasury Bureau, the Hong Kong Commerce and Economic Development Bureau, and the Hong Kong Trade Development Council, with co-organizers including the Hong Kong Monetary Authority, the Securities and Futures Commission, and the Insurance Authority. The event, themed 'Driving the New Era of FinTech', is expected to attract over 37,000 participants from more than 100 economies, 800 speakers, and over 700 exhibiting organizations to discuss the future landscape and development opportunities of FinTech.
Is Move secure? Typus permission validation vulnerability
Author: Johan & Lisa Editor: 77 On October 16, the DeFi project Typus Finance on the Sui chain was attacked by hackers, and the official report has been released thanking the Slow Mist security team for their assistance in investigation and tracking:
(https://medium.com/@TypusFinance/typus-finance-tlp-oracle-exploit-post-mortem-report-response-plan-ce2d0800808b) This article will deeply analyze the reasons for this attack and discuss the characteristics of permission control in Sui Move smart contracts. Detailed explanation of the attack steps We analyze the first attack transaction: https://suivision.xyz/txblock/6KJvWtmrZDi5MxUPkJfDNZTLf2DFGKhQA2WuVAdSRUgH
Slow Fog Production | Common Cryptographic Risks in Blockchain Applications
Background Overview
Cryptography is the cornerstone of Web3 security, from the generation of private keys to the signing of transactions, every step relies on the correct and secure implementation of cryptographic components. However, in the practical development of Web3 projects, development teams often focus on business logic and performance optimization, lacking sufficient vigilance towards the subtle aspects of underlying cryptographic implementations. Using insecure random number generators, incorrectly calling cryptographic libraries, or having misconceptions about algorithmic characteristics can introduce fatal vulnerabilities, leading to private key leaks, signature forgery, and consequently causing irreparable asset losses.
1.5 billion USD in Bitcoin Sanctioned: Largest Joint Sanctions Action in U.S.-UK History Targets Southeast Asian Cybercrime Groups
Background On October 14, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), and the UK Foreign, Commonwealth & Development Office (FCDO) took the largest coordinated sanctions action in history against cybercrime groups operating in Southeast Asia. This action not only sanctioned 146 individuals and entities linked to the 'Prince Group Transnational Criminal Organization (Prince Group TCO),' but also announced the seizure of 127,271 bitcoins (approximately 1.5 billion USD) associated with the Prince Group. Meanwhile, FinCEN designated the Huione Group, based in Cambodia, as a major money laundering entity, completely isolating it from the U.S. financial system.
SlowMist Attends Hong Kong Web3 Intelligence & Enforcement Summit and VAIT Inauguration Ceremony
On October 10, the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force hosted the Web3 Intelligence & Enforcement Summit in Hong Kong and officially announced the establishment of the Virtual Asset Intelligence Team (VAIT). This forum gathered over 250 representatives from the Security Bureau, the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority, the Securities and Futures Commission, Customs, licensed virtual asset service providers (VASPs), financial institutions, and academia. The event focused on inter-departmental collaboration, anti-money laundering regulation, Web3 cybersecurity, and enforcement strategies, collectively exploring how to build a safe, transparent, and healthy virtual asset ecosystem.
SlowMist Q3 Tracking Record: Assisting Stolen Clients in Freezing/Recovering Over One Million Dollars
Since SlowMist launched the MistTrack stolen form submission feature, we have been receiving a large number of requests for help from victims every day, hoping for assistance in fund tracking and recovery, including several victims who lost tens of millions of dollars. Based on this, this series aims to analyze and compile statistics on stolen requests received each quarter, with the goal of dissecting common or rare malicious tactics through desensitized real cases, helping industry participants better understand and prevent security risks, and protect their assets.
According to statistics, the MistTrack Team received a total of 317 stolen form submissions in Q3 2025, including 245 domestic forms and 72 overseas forms. We provided free evaluation community services for these forms. (Ps. This data is only for cases submitted through the forms and does not include cases contacted via email or other channels.)
Case Sharing | MistTrack Helps Virtual Asset Funds Achieve Anti-Money Laundering Compliance Risk Control
Background In the operation of virtual asset funds, the source and flow of investor funds directly determine the compliance risk level of the fund. With global regulation tightening, virtual asset fund service providers must not only ensure compliance at the KYC (Know Your Customer) level but also extend scrutiny to KYW (Know Your Wallet) and SOT (Source of Tokens) reviews. However, virtual asset fund service providers generally face complex sources of investor funds; the public chain data is vast, relying solely on internal technical teams for manual tracing is time-consuming and prone to errors; there is a lack of efficient tools to align on-chain investigation results with the compliance standards required by financial institutions.
Meeting in Seoul | SlowMist will appear at the Global Blockchain Forum
We are pleased to announce that SlowMist will attend the Global Blockchain Forum on September 22, 2025, at the National Assembly of Korea, gathering industry partners from around the world.
As an important event during Korea Blockchain Week 2025 (KBW 2025), the Global Blockchain Forum is co-hosted by Korean National Assembly member Min Byoung-Dug and the Korea Blockchain Industry Promotion Association (KBIPA), bringing together policymakers, top executives, pioneering Web3 innovators, and academic experts from the global cryptocurrency industry to promote cross-border cooperation and explore cutting-edge trends and development paths in blockchain and decentralized technologies.