With the evolving technologies bad actors have developed several new ways to loot ones involved in cryptocurrencies. In a most recent development, a cybersecurity firm noted that hackers have successfully created a clone of Zoom, a popular video conferencing software.
According to SlowMist’s blog post, the attacker impersonated a genuine Zoom meeting link by using a domain that looked like “app[.]us4zoom[.]us.” The website was a close imitation of the real Zoom meeting interface.
Instead of starting the local Zoom client, users’ clicks on the “Launch Meeting” button caused a malicious installation package to be downloaded. As soon as a user tries to open the meeting link the malicious application will automatically download in the system of the victim.
Scammers and bad actors have continued to trouble the decentralized market and since the beginning of this year, the market lost over $1.80 billion in different illicit activities.
Earlier this week a new scam technique for scamming investors was identified in which the scammer intentionally posts seed phrases of a crypto wallet in the comments of random YouTube videos, to lure unprofessional and innocent investors.
Hackers and Scammers demolishing Crypto’s image!
From the start of this year till writing, scammers, hackers, fraudsters and bad actors have troubled the market on the verge. In just a couple of months, these bad actors have succeeded in wiping out billions of dollars.
It is worth noting that in recent years, centralized exchanges have become the major victim of hackers, followed by decentralized and others. In the third quarter of 2024 around 70 percent of total hack and breach incidents were reported over centralized exchanges.
The available data states that the number of crypto theft activities in the crypto sector has surged at a greater pace collectively losing billions.
They claimed that one of the main reasons for the fraudulent schemes was the blockchain’s accessibility, which enabled con artists to use over 100k
little enticement payments to victims as part of their grooming techniques.
The pig slaughtering frauds were the biggest fraud of the year, with losses of $3.6 billion on the Ethereum blockchain alone.
A 40% increase over 2023, losses from 165 significant catastrophes totaled over $2.3 billion. It is still 37% lower than the 2022 record losses, though.
53 hacking and scam incidents were reported in Q1 of 2024, with Q3 seeing the most financial loss of $760 million.
Crypto Market Price Updates
As of writing the cryptocurrency market capitalization was at $3.36 trillion with an intraday surge of 1.08 percent, at the same time the overall volume of $124.56 billion with an addition of 8 percent.
At the same time, Bitcoin was trading at $96,455 with an addition of 3.46 percent in the weekly time frame, till now it has been dominating more than 57 percent of the wider crypto market, followed by Ethereum, Tether, and BNB.
Ethereum prices seem to be stuck in the range below $3,500, at the time of writing it was trading at $3,405 with an addition of 1.76 percent in the past 24 hours.
