Amber Group CTF Team Clinches Victory at OpenZeppelin's Ethernaut Capture the Flag 2024

SINGAPORE, April 11, 2024 /PRNewswire/ -- Amber Group, the leading global digital asset company, is proud to announce its "Amber Labs" CTF Team has won first place at the prestigious Ethernaut Capture the Flag (CTF) 2024 competition.

The Ethernaut, hosted by OpenZeppelin, is an intense Web3 based wargame that challenges participants with a labyrinth of smart contract hacking and cryptography puzzles. Competing against 299 top teams from around the world, Amber Labs' triumph stands as a definitive testament to their exceptional skills and expertise.

Over the course of the 48-hour competition, Amber Labs showcased their mastery of smart contract security, bug hunting, and Ethereum Virtual Machine (EVM) reverse engineering. They were the first team to crack the challenging collateral vault puzzle, showcasing their deep understanding of DeFi protocol design and Web3 security. By leveraging their previous security research results that reproduced the $160 million exploit on Wintermute, the team successfully conquered the last challenge and finished ahead of the accomplished security researchers from Desecurity (2nd place), and Statemind (3rd place).

Dr. Chiachih Wu, Partner and Head of Web3 Security at Amber Group, said "This victory serves as recognition for our team's outstanding work and dedication to advancing blockchain security. As we strive constantly to push security boundaries, competitions like this enable us to further develop our skills while contributing to stronger defenses across the industry. I congratulate all participants for their important contributions through evaluating emerging threats and enhancing standards."

Under the leadership of Dr. Chiachih Wu, a renowned security researcher and former co-founder of PeckShield, the Amber Group Web3 Team stands as a powerhouse of cybersecurity expertise. The team actively engages in global security competitions and pioneering research, ensuring that Amber Group remains at the forefront of Web3 security. Some of their outstanding achievements include:

• 1st place at ETH Taipei War Room Games 2023
• 3rd place at Blaz CTF 2023 and Numen CTF 2023
• 4th place at ETH Denver CTF 2024
• 6th place at Paradigm CTF 2022 and MOVE CTF 2022
• Success in reproducing over 100 known attacks and recovering $1 million+ from past breaches across DeFi projects
• Acceptance by Black Hat Asia and the Workshop on Offensive Technologies (WOOT) for their groundbreaking fuzzing research

For more information about Amber Group's achievements in Web3 Security, visit: https://www.ambergroup.io/security

About Amber Group

Amber Group is a global digital asset leader headquartered in Singapore. Since 2017, we've built full-stack solutions that bridge traditional finance and digital assets, offering end-to-end services including wealth management, asset management, market making, advisory, investing and infrastructure. Backed by top investors and with deep expertise in crypto and traditional markets, we leverage AI, blockchain and quantitative research to deliver personalized and cutting-edge solutions to help our global client base of HNW individuals, institutions, crypto funds, exchanges and projects optimize returns safely in any market conditions.

SOURCE Amber Group