Crypto hacks, scam losses reach $29M in December, lowest in 2024

January 2, 2025 Coin Telegraph

Crypto hacks, scam losses reach M in December, lowest in 2024

blockchain incidents 2024

Both CertiK and PeckShield shared data showing December was the lowest month for crypto losses in 2024.

Losses to crypto scams, exploits and hacks tapered off in the last months of 2024, with December registering the smallest amount stolen.

Blockchain security firm CertiK said in a Dec. 31 post on X that there were $28.6 million known losses to exploits, hacks and scams in December, compared with $63.8 million in November and $115.8 million in October.

According to the firm, exploits comprised the bulk of the losses, with $26.7 million stolen by attackers in December.

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

DeFi hacks drop 40% in 2024, CeFi breaches surge to $694M: Hacken

December 24, 2024 Coin Telegraph

DeFi hacks drop 40% in 2024, CeFi breaches surge to 4M: Hacken

Blockchain security

DeFi losses dropped 40% in 2024 as advanced security measures strengthened protocols, while CeFi breaches surged to $694M.

Decentralized finance (DeFi) security experienced 40% fewer financial losses in 2024 than in the previous year due to improved protocols, stronger bridges, and advanced cryptographic measures.

According to block security firm Hacken’s annual Web3 Security Report, DeFi’s strengthened security measures through 2024 arrived in tandem with centralized finance (CeFi) facing a bleak reflection of the year.

CeFi breaches more than doubled while losses surged to $694 million as centralized exchanges became primary targets for access control vulnerabilities and other critical security risks.

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

Radiant Capital says North Korea posed as ex-contractor to carry out $50M hack

December 9, 2024 Coin Telegraph

Radiant Capital says North Korea posed as ex-contractor to carry out M hack

Blockchain security

A North Korean threat actor was behind the $50 million attack on Radiant Capital in October and spoofed being an ex-contractor, the DeFi platform said.

Radiant Capital has said a $50 million hack on its decentralized finance (DeFi) platform in October was carried out through malware sent via Telegram from a North Korea-aligned hacker posing as an ex-contractor.

Radiant said in a Dec. 6 update of the ongoing investigation that its contracted cybersecurity firm Mandiant has assessed “with high-confidence that this attack is attributable to a Democratic People’s Republic of Korea (DPRK)-nexus threat actor.”

The platform said a Radiant developer received a Telegram message with a zip file from a “trusted former contractor” on Sept. 11 asking for feedback on a new endeavor they were planning.

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

Phishing scam via fake Zoom link costs GIGA investor $6M

November 12, 2024 Coin Telegraph

Phishing scam via fake Zoom link costs GIGA investor M

Blockchain security

A phishing scam through a fake Zoom link drained $6.09 million from a Gigachad token investor, igniting security concerns.

A crypto memecoin investor holding Gigachad (GIGA) tokens lost $6.09 million in a phishing attack involving a fake Zoom meeting link.

On Nov. 12, GIGA recorded an unusual price drop triggered by a massive sell-off event. Soon after, prominent pseudonymous GIGA investor Still in the Game proactively alerted against the involvement of a hacker:

According to crypto investigation firm Scam Sniffer, the victim clicked on a fake Zoom call invite link, which redirected them to a deceptive website designed to harvest sensitive wallet information.

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

ZachXBT claims there is an uptick in thieves targetting crypto traders offline

October 13, 2024 Coin Telegraph

asset protection

Online platform GitHub has a list of at least 15 recorded incidents of in person crypto theft in the last year, around 17 in 2023, and 32 in 2021.

Blockchain investigator ZachXBT says he’s noticed an uptick in messages from people alleging they are the victims of in person crypto robbery.

In an Oct. 10 post, the onchain sleuth said he had received messages from multiple victims of crypto home invasion thefts “in Western Europe over the past few months at a much higher rate than other regions.”

He made the same claim in a Sept. 27 message shared via his Telegram channel, saying he knew of several individuals in the crypto community who had been held at gunpoint and had their crypto stolen in recent months.

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

EigenLayer says $5.7M hack ‘isolated’ incident, no vulnerability on protocol

October 5, 2024 Coin Telegraph

EigenLayer says .7M hack ‘isolated’ incident, no vulnerability on protocol

$5.7M hack

EigenLayer said that some of the stolen funds have been frozen as part of ongoing recovery efforts.

Ethereum restaking protocol EigenLayer assured the community that its protocol has no vulnerabilities after an incident where almost $6 million in tokens were stolen from an investor.

On Oct. 4, the EigenLayer team said it was investigating an “unapproved selling activity” concerning a wallet ending in “f10D.” The wallet address sold about 1.6 million of EigenLayer’s EIGEN tokens, worth about $5.7 million.

Etherscan quickly marked the address as under investigation following EigenLayer’s announcement.

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

Crypto lender Shezmu recovers hacked funds through negotiation

September 21, 2024 Coin Telegraph

Blockchain security

Shezmu recovered nearly $5 million in stolen crypto through negotiations with a hacker and agreed to a higher bounty.

Leveraging yield protocol, Shezmu recovered nearly $5 million of stolen funds within hours of successfully negotiating with a hacker.

On Sept. 21, Chaofan Shou, the co-founder of blockchain analytics firm Fuzzland, alerted against a compromised storage vault belonging to Shezmu. While uncertain if the incident was a rug pull or a genuine hack, Shou confirmed that roughly $4.9 million worth of cryptocurrencies was stolen in the process.

Source: Chaofan Shou

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

Decentraland X account hacked, phishing scam targets MANA airdrop

September 19, 2024 Coin Telegraph

Blockchain security

PeckShield has warned Decentraland followers of an ongoing phishing attack using a fake MANA airdrop, urging users to avoid interacting with it.

PeckShield, a blockchain security firm, warned in an X post on Sept. 19 that the official Decentraland X account had been compromised.

The attackers are reportedly circulating a phishing link posing as a MANA token airdrop to deceive the virtual reality (VR) platform’s social media followers.

The link redirects users to a website that prompts users to claim the token airdrop by connecting their wallets, only to have their funds compromised shortly after.

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

Tron, Tether, and TRM Labs Join Forces to Tackle Crypto Crime

September 10, 2024 Bitcoin.com

bitcoin.com

Tron, Tether, and TRM Labs have announced the creation of the T3 Financial Crime Unit (T3 FCU), a new initiative aimed at fighting illicit activity in the cryptocurrency space. The partnership, focused on public-private collaboration, seeks to improve security within the Tron blockchain and reduce the misuse of its tether (USDT) stablecoin. Crypto Giants Tron, […]

Bitcoin price falls toward range lows, but data shows ‘whales going wild right now’

India’s Web3 alliance tightens cybersecurity after Wazirx attack

July 31, 2024 Coin Telegraph

Bharat Web3 Association

The BWA’s initiatives highlight an increasing awareness of the importance of cybersecurity in preserving trust and integrity in digital finance.

Following the $230 million hack on WazirX, India’s Bharat Web3 Association (BWA) is increasing its focus on strengthening cybersecurity and improving consumer protection within the crypto industry.

According to local media, the BWA, chaired by Dilip Chenoy, has formed two new internal groups specifically to address these issues and investigate the recent security breach.

One group will focus on cybersecurity, comprising chief information security officers from member firms. This team will develop standard operating procedures and implement solutions designed to prevent future security breaches.

Blockchain security

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