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🚨Crypto Losses to #hacks Exceed $313M in August 🚨
Cryptocurrency hackers stole $313.86 million in digital assets across more than 10 #cyberattacks in August, raising significant doubts about the broader acceptance of the asset class.
The alarming figure highlights a growing trend of sophisticated #cybercrime targeting the crypto industry.
This wave of thefts has prompted renewed calls for stricter regulation and better security measures within the sector.
The recent hacks add pressure on #exchanges and custodians to bolster their defenses and protect user assets.
🌐Source: #Cointelegraph
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Cryptocurrency hackers stole $313.86 million in digital assets across more than 10 #cyberattacks in August, raising significant doubts about the broader acceptance of the asset class.
The alarming figure highlights a growing trend of sophisticated #cybercrime targeting the crypto industry.
This wave of thefts has prompted renewed calls for stricter regulation and better security measures within the sector.
The recent hacks add pressure on #exchanges and custodians to bolster their defenses and protect user assets.
🌐Source: #Cointelegraph
Follow me to keep yourself updated ❗❕❗
Why is HTX Witnessing a $258 Million Outflow After Multiple Exploits? 😱
Amid multiple #hacks , the crypto exchange HTX faced an exodus of $258 million post a $30 million exploit in November.
Investor trust plummeted after four attacks within two months, including a $100 million Poloniex breach and a HECO Chain bridge #compromise .
Despite promises by Justin Sun, no response from HTX has surfaced. November marked a $363 million theft surge in the crypto realm, underscoring mounting #security concerns and the flight of assets from compromised platforms like HTX.
#Binance
#crypto2023
Amid multiple #hacks , the crypto exchange HTX faced an exodus of $258 million post a $30 million exploit in November.
Investor trust plummeted after four attacks within two months, including a $100 million Poloniex breach and a HECO Chain bridge #compromise .
Despite promises by Justin Sun, no response from HTX has surfaced. November marked a $363 million theft surge in the crypto realm, underscoring mounting #security concerns and the flight of assets from compromised platforms like HTX.
#Binance
#crypto2023
Due to the anonymity cryptocurrencies provide, the crypto industry is known to be targeted by hackers and other malicious players.
This has left many wondering just how much digital currency has been pilfered from right under the nose of the industry over the years.
Now, the latest report by blockchain security firm SlowMist seems to have the answer. According to the recently released report, hackers and scammers have made off with a staggering $30 billion in cryptocurrency since 2012.
#cryptocurrency #hacks #scams #money #cryptoonindia
This has left many wondering just how much digital currency has been pilfered from right under the nose of the industry over the years.
Now, the latest report by blockchain security firm SlowMist seems to have the answer. According to the recently released report, hackers and scammers have made off with a staggering $30 billion in cryptocurrency since 2012.
#cryptocurrency #hacks #scams #money #cryptoonindia
Crypto users lost $1.8 billion in 2023 hacks and scams
Over the course of 2023, crypto users lost $1.8 billion in various hacks, exploits, scams and rug pulls, bug bounty platform Immunefi said in a report published on Thursday. While that's a 54% decrease from the $3.9 billion the industry lost in 2022, the number of single incidents increased 90% from 168 in 2022 to 319 in 2023.
The third quarter of the year proved to be the most disastrous, accounting for a third of all losses registered during the year. In terms of monthly numbers, the highest losses were seen in November ($343 million), September ($340 million) and July ($320 million).
A total of $1.6 billion was lost as a result of hacks in 247 incidents mostly connected to decentralized finance platforms, while fraud accounted for $103 million lost in 110 incidents, according to the report.
Immunefi said that 13.5% of the stolen funds, or around $231.7 million, had been recovered in 19 cases.
Most attacked blockchains
BNB Chain and Ethereum are consistently the most attacked blockchains, accounting for more than half of the total losses. According to Immunefi, 131 incidents involved BNB Chain-based projects, and 91 incidents were seen on Ethereum. They were followed by Polygon with ten incidents, and Avalanche with six.
North Korea's Lazarus Group got away with $308.6 million of funds stolen from various projects in 2023, which is 17.4% of the total losses seen during the year. The group is believed to be behind the attacks on Atomic Wallet, CoinEx, Alphapo, Stake and CoinsPaid.
Other notable incidents in 2023 included attacks on Mixin Network ($200 million), Euler Finance ($197 million), Multichain ($126 million), Poloniex ($126 million), and BonqDAO ($120 million), Immunefi said.
#Scams #hacks
The third quarter of the year proved to be the most disastrous, accounting for a third of all losses registered during the year. In terms of monthly numbers, the highest losses were seen in November ($343 million), September ($340 million) and July ($320 million).
A total of $1.6 billion was lost as a result of hacks in 247 incidents mostly connected to decentralized finance platforms, while fraud accounted for $103 million lost in 110 incidents, according to the report.
Immunefi said that 13.5% of the stolen funds, or around $231.7 million, had been recovered in 19 cases.
Most attacked blockchains
BNB Chain and Ethereum are consistently the most attacked blockchains, accounting for more than half of the total losses. According to Immunefi, 131 incidents involved BNB Chain-based projects, and 91 incidents were seen on Ethereum. They were followed by Polygon with ten incidents, and Avalanche with six.
North Korea's Lazarus Group got away with $308.6 million of funds stolen from various projects in 2023, which is 17.4% of the total losses seen during the year. The group is believed to be behind the attacks on Atomic Wallet, CoinEx, Alphapo, Stake and CoinsPaid.
Other notable incidents in 2023 included attacks on Mixin Network ($200 million), Euler Finance ($197 million), Multichain ($126 million), Poloniex ($126 million), and BonqDAO ($120 million), Immunefi said.
#Scams #hacks
⚡️ Top 10 Crypto Protocols Exploits in November
During November 2023, the crypto industry saw a loss of $343M across the web3 ecosystem. According to Immunefi's report, $335.5M was lost to hacks across 18 specific incidents, and $7.46M was lost to fraud across 23 specific incidents. Let's analyze the largest losses of the month!
#exploit #hack #hacks $KNC $HT $DYDX $RAFT $XCN #dydx #KNC
During November 2023, the crypto industry saw a loss of $343M across the web3 ecosystem. According to Immunefi's report, $335.5M was lost to hacks across 18 specific incidents, and $7.46M was lost to fraud across 23 specific incidents. Let's analyze the largest losses of the month!
#exploit #hack #hacks $KNC $HT $DYDX $RAFT $XCN #dydx #KNC
🚨 CRYPTO HACKERS STEAL $266M IN JULY THROUGH 16 BREACHES 🚨
🔒 The crypto sector faced a significant blow in July as hackers managed to steal approximately $266 million across 16 separate breaches, according to PeckShield.
💥 Major Incident: WazirX Attack
On July 18, Indian crypto exchange WazirX was attacked, accounting for over $230 million, or 86.4%, of the month's total losses. Independent investigations have suggested North Korean cybercriminals might be behind the breach. The stolen WazirX funds, totaling 61,154 Ether, remain under the hackers' control as of August 1.
📉 Other Major July Hacks
Compound Finance: Lost $24 million
Li.Fi: Lost $10 million
Bittensor & Rho Markets: Each lost $8 million
🔍 Many of these stolen funds were moved to the cryptocurrency mixer Tornado Cash, a technique often used by hackers to obscure the origins of funds and evade detection.
📈 CRYPTO MARKET'S RESILIENT RECOVERY
Despite ongoing hacks and scams, the crypto market achieved a record recovery rate of 77% for stolen funds in Q2 2024. According to Hacken's Web3 Security Report Q2 2024, $347.4 million of the stolen funds were recovered or frozen out of the total $512.9 million lost.
⚠️ RISING THREAT OF SCAMS ON X
Scam Sniffer, a web3 anti-scam company, revealed that nearly $50 million is lost each month due to account impersonation on X.com.
🔐 FINAL THOUGHTS
Stay safe, question everything, think twice and don't make quick and impulsive decisions!
Follow @Professor Mende - Bonuz Ecosystem Founder for more & stay awesome!
#scamalert #scam #scams #hack #hacks
$BTC $PEPE $SHIB
🔒 The crypto sector faced a significant blow in July as hackers managed to steal approximately $266 million across 16 separate breaches, according to PeckShield.
💥 Major Incident: WazirX Attack
On July 18, Indian crypto exchange WazirX was attacked, accounting for over $230 million, or 86.4%, of the month's total losses. Independent investigations have suggested North Korean cybercriminals might be behind the breach. The stolen WazirX funds, totaling 61,154 Ether, remain under the hackers' control as of August 1.
📉 Other Major July Hacks
Compound Finance: Lost $24 million
Li.Fi: Lost $10 million
Bittensor & Rho Markets: Each lost $8 million
🔍 Many of these stolen funds were moved to the cryptocurrency mixer Tornado Cash, a technique often used by hackers to obscure the origins of funds and evade detection.
📈 CRYPTO MARKET'S RESILIENT RECOVERY
Despite ongoing hacks and scams, the crypto market achieved a record recovery rate of 77% for stolen funds in Q2 2024. According to Hacken's Web3 Security Report Q2 2024, $347.4 million of the stolen funds were recovered or frozen out of the total $512.9 million lost.
⚠️ RISING THREAT OF SCAMS ON X
Scam Sniffer, a web3 anti-scam company, revealed that nearly $50 million is lost each month due to account impersonation on X.com.
🔐 FINAL THOUGHTS
Stay safe, question everything, think twice and don't make quick and impulsive decisions!
Follow @Professor Mende - Bonuz Ecosystem Founder for more & stay awesome!
#scamalert #scam #scams #hack #hacks
$BTC $PEPE $SHIB
RONIN NETWORK HIT BY $9.8M ETH EXPLOIT
Ronin Network lost 3,996 $ETH ($9.8M) in a possible white hat hacker exploit.
If confirmed, funds might be returned soon. MEV bot “0x4ab” executed the transaction.
Crypto hacks in 2024 are set to surpass 2023, with $542.7M stolen in Q1. July alone saw $266M in hacks.
#MarketDownturn #hacks
Ronin Network lost 3,996 $ETH ($9.8M) in a possible white hat hacker exploit.
If confirmed, funds might be returned soon. MEV bot “0x4ab” executed the transaction.
Crypto hacks in 2024 are set to surpass 2023, with $542.7M stolen in Q1. July alone saw $266M in hacks.
#MarketDownturn #hacks
🔒The losses from #hacks on the #BNBChain
significantly decreased in 2023.
In 2023, a total of 414 incidents resulted in a loss of $161.1M👀
📉This is 85% less compared to the $1.11B stolen in 2022.
#losses #bnbSmartChain
significantly decreased in 2023.
In 2023, a total of 414 incidents resulted in a loss of $161.1M👀
📉This is 85% less compared to the $1.11B stolen in 2022.
#losses #bnbSmartChain
🚨 $572,000,000 IN CRYPTO SCAM LOSSES IN Q2 2024 🚨
💥 Losses from crypto hacks and scams skyrocketed by 113% in Q2 2024, hitting $572 million compared to $220 million in the same period last year, according to Immunefi.
Centralized Exchanges Hit Hard
🏦 The majority of these losses stemmed from centralized exchange hacks. Centralized protocols and exchanges suffered approximately $401 million in losses, which is 70% of the total losses for the quarter.
Major Hacks
🔑 The biggest single loss was the $305 million private key hack of the DMM crypto exchange on May 31.
💸 Another significant hit was the $55 million hack of BtcTurk on June 22. Together, these two incidents accounted for over 62% of the total losses for the quarter.
Reversing Previous Trends
📉 Before this quarter, losses from hacks and scams had been on a downward trend. Q1 2024 saw a 23% reduction in losses. This decline continued, but losses surged dramatically by the end of May and June.
Decentralized Finance (DeFi) Still Vulnerable
🔓 DeFi protocols experienced $171 million in losses, which is a 25% decrease from Q2 2023. Despite the decrease, DeFi remains a significant target.
Top Networks Targeted
📊 Ethereum and BNB Smart Chain continued to be the most targeted networks, making up 71% of total losses.
🛡 Arbitrum emerged as the third most targeted network, suffering four incidents that accounted for 5.5% of total losses. Blast and Optimism each had three incidents.
Successful Recoveries
🔄 Some stolen funds were recovered by security researchers. The attacker of the Gala Games protocol returned nearly all the funds. Alex Labs, Bloom, and Yolo Games also managed to recover most of their lost funds, representing 5% of the total amount lost in the quarter.
Do you know someone who became the victim of a crypto scam?
👇 Let me know in the comments below!
Stay updated with @Professor Mende - Bonuz Ecosystem Founder
#cryptoscams #hacks #scamalert #cex #defi
$PEPE $SHIB $FLOKI
💥 Losses from crypto hacks and scams skyrocketed by 113% in Q2 2024, hitting $572 million compared to $220 million in the same period last year, according to Immunefi.
Centralized Exchanges Hit Hard
🏦 The majority of these losses stemmed from centralized exchange hacks. Centralized protocols and exchanges suffered approximately $401 million in losses, which is 70% of the total losses for the quarter.
Major Hacks
🔑 The biggest single loss was the $305 million private key hack of the DMM crypto exchange on May 31.
💸 Another significant hit was the $55 million hack of BtcTurk on June 22. Together, these two incidents accounted for over 62% of the total losses for the quarter.
Reversing Previous Trends
📉 Before this quarter, losses from hacks and scams had been on a downward trend. Q1 2024 saw a 23% reduction in losses. This decline continued, but losses surged dramatically by the end of May and June.
Decentralized Finance (DeFi) Still Vulnerable
🔓 DeFi protocols experienced $171 million in losses, which is a 25% decrease from Q2 2023. Despite the decrease, DeFi remains a significant target.
Top Networks Targeted
📊 Ethereum and BNB Smart Chain continued to be the most targeted networks, making up 71% of total losses.
🛡 Arbitrum emerged as the third most targeted network, suffering four incidents that accounted for 5.5% of total losses. Blast and Optimism each had three incidents.
Successful Recoveries
🔄 Some stolen funds were recovered by security researchers. The attacker of the Gala Games protocol returned nearly all the funds. Alex Labs, Bloom, and Yolo Games also managed to recover most of their lost funds, representing 5% of the total amount lost in the quarter.
Do you know someone who became the victim of a crypto scam?
👇 Let me know in the comments below!
Stay updated with @Professor Mende - Bonuz Ecosystem Founder
#cryptoscams #hacks #scamalert #cex #defi
$PEPE $SHIB $FLOKI
🕵️ Crypto #hacks and rugpulls have led to $473 million in losses in 2024.
These security breaches have significantly impacted the #cryptocurrency market, raising concerns about the safety and reliability of digital assets.
#RugPull #cryptohacks #TrendingTopic
These security breaches have significantly impacted the #cryptocurrency market, raising concerns about the safety and reliability of digital assets.
#RugPull #cryptohacks #TrendingTopic