A US hacker convicted of plundering more than $12 million worth of crypto assets from two decentralized exchanges (DEXs) was sentenced to three years in prison. In July 2022, Shakeeb Ahmed, a security engineer, used fake pricing data to generate approximately $9 million worth of inflated fees on an unnamed DEX, according to the U.S. […]
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In the first quarter of 2024, more than $336 million in digital assets were stolen from decentralized finance platforms across 61 incidents of hacking and fraud. During this period, criminals made off with digital assets valued at $144.48 million in two major hacking incidents. In contrast, centralized finance platforms reported no incidents of hacking or […]
Financial losses from crypto thefts significantly increased last month, according to blockchain security firm PeckShield. In a new post on the social media platform X, PeckShield says hackers stole around $360.83 million worth of crypto assets in February, up from just $182.54 million in January. Crypto gaming platform PlayDapp (PLA) accounts for the lion’s share […]
The post Over $360,000,000 Worth of Crypto Stolen in Month of February, According to PeckShield appeared first on The Daily Hodl.
Blockchain security firm Certik says financial losses related to security incidents in the web3 industry topped over $1.84 billion in 2023. In its annual web3 security report, Certik says there were 751 security incidents last year costing a total of $1,840,879,064, representing a decline of 51% from the $3.7 billion lost in 2022. A larger […]
The post Over $1,840,000,000 Lost in Hundreds of Crypto Security Incidents Last Year: Blockchain Security Firm appeared first on The Daily Hodl.
The North Korean hacker collective the Lazarus Group holds tens of millions of dollars worth of Bitcoin (BTC) and other digital assets, according to the latest on-chain data. Researchers at 21.co, the parent company of 21shares, the world’s largest crypto exchange-traded product (ETP) issuer, have created a new dashboard showing the crypto holdings of the […]
The post North Korean Hackers Lazarus Group Holds Over $46,000,000 in Bitcoin, Ethereum and Other Crypto: On-Chain Data appeared first on The Daily Hodl.
A new report from a bug bounty platform shows that the amount of crypto assets lost to hacks and frauds took a dive in August. According to Immunefi, $23,366,220 worth of digital assets were lost in August, marking a sharp decline from the $320,498,660 worth of losses recorded in July. Crypto losses from hacks and […]
The post More Than $23,000,000 Worth of Crypto Lost to Hacks and Frauds in August: Bug Bounty Platform Immunefi appeared first on The Daily Hodl.
While total year-over-year losses to hackers dropped 58%, BNB Chain saw 119 security incidents leading to losses of around $70 million, followed by Ethereum, with 55 incidents netting hackers over $65 million.
More than $300 million in digital assets were lost to crypto hacks and exploits in the second quarter of 2023, according to on-chain data compiled in the quarterly report by the blockchain security company CertiK.
In the report, CertiK showed that there were a total of 212 security incidents in the quarter. The firm noted that across the incidents, malicious actors drained a total of $313,566,528 from Web3 protocols. Compared to the second quarter of 2022, when hacks and exploits took $745 million, the security firm pointed out that there was a 58% decline in the amount lost.
Despite the lower total amount recorded compared to 2022, the quarter saw an increase in the value lost to exit scams, which amounted to around $70 million in the second quarter of 2023. This is almost double the losses from similar scams in the first quarter, which was around $31 million.
Meanwhile, losses from flash loans and oracle manipulation exploits saw a drastic decrease in the second quarter compared to the first quarter of 2023. In the first quarter, there were a total of 52 oracle manipulation attacks leading to losses of around $222 million, with the infamous Euler Finance hack contributing 85% to the losses.
In the second quarter, there were a total of 54 flash loan and oracle manipulation attacks, which led to losses of around $23 million, an 89% decline compared to the first quarter.
Related: Poly Network urges users to withdraw after exploit affects 57 crypto assets
Apart from this, CertiK also highlighted that out of all the blockchains the firm analyzed, BNB Chain recorded the most incidents, with 119 incidents leading to $70,711,385 in losses. Ethereum came in second place, with 55 incidents netting hackers $65,999,953.
Meanwhile, a report from PeckShield showed that half of stolen nonfungible tokens (NFTs) are being sold within three hours of being stolen by malicious actors — indicating that hackers are quick to offload their ill-gotten gains after performing NFT theft.
Magazine: Should crypto projects ever negotiate with hackers? Probably
A new survey conducted by Kaspersky indicates one in three US digital asset investors have had their crypto stolen. The Russian cybersecurity firm surveyed 2,000 American adults about crypto last October. Kaspersky notes that 24% of the respondents said they currently own crypto assets. According to the study, a third of the digital asset owners […]
The post One in Three US Crypto Investors Fell Victim to Fraudulent Websites or Investment Scams: Kaspersky Study appeared first on The Daily Hodl.
The Federal Bureau of Investigation (FBI) says that the number of victims who fell to crypto investment scams reached record numbers in 2022. In a new report, the Bureau says that investment scams were the costliest schemes reported to the Internet Crime Complaint Center (IC3) last year. Losses sustained by investment scam victims rose from […]
The post FBI Says Crypto Scams Skyrocketed 183% in 2022, Causing $2,570,000,000 in Losses appeared first on The Daily Hodl.
The scammer behind the crypto wallet draining kit even recommended an alternative and gave advice to budding cybercriminals.
The cryptocurrency phishing scammer behind some of the most high-profile and high-value Web3 thefts is claiming to have packed up shop and is “moving on to something better.”
The scammer by the pseudonym Monkey Drainer posted to their Telegram channel on Mar. 1 that they “will be shutting down immediately” and all “files, servers and devices” related to the drainer “will be destroyed immediately” and it “will not return.”
The scammer even gave advice to budding “young cyber criminals” saying they shouldn’t “lose themselves in the pursuit of easy money” and only those “with the highest level of dedication” should operate a “large scale cybercrime” outfit.
Monkey Drainer even recommended a “flawless” alternative service to the one they once offered named “Venom Drainer” and pointed to a Telegram account for the service that was created only a day before Monkey’s announcement.
Blockchain security firm PeckShield tweeted on Mar. 1 that Monkey Drainer scammer deposited around 200 Ether (ETH) worth $330,000 within the last day into the crypto mixing service Tornado Cash, attempting to obscure their funds. 840 ETH worth $1.4 million was still in their primary wallet.
#PeckShieldAlert Scammer #MonkeyDrainer, who runs theft schemes for multiple clients (a sort of 'scam-as-a-service') announced to shut down their service
— PeckShieldAlert (@PeckShieldAlert) March 1, 2023
~200 $ETH has been transferred to Tornado Cash within the last 24 hours, while ~840 $ETH (~$1.4M) sits in their main address pic.twitter.com/1lg3KLRxhk
Blockchain security firm CertiK also shared Monkey’s message on a Mar. 1 tweet, saying the crypto wallet-draining kit they offered is understood to take a 30% “commission” of funds stolen funds from others' use of the software.
Wallet-draining kits from other providers have copied the model, and CertiK pointed to other vendors already reporting an uptick in requests since Monkey Drainer announced the shutdown.
3/ Wallet drainer vendors have noted the payment structure Monkey introduced and have since copied
— CertiK Alert (@CertiKAlert) February 28, 2023
Below are a few examples that we’ve seen: pic.twitter.com/i62aU5t2pv
Monkey Drainer is understood to have operated since late 2022 and is estimated to have stolen up to $13 million worth of cryptocurrencies and nonfungible tokens (NFTs) since that time.
Related: Monkey Drainer-linked scammers possibly exposed after an on-chain quarrel
Other copycat phishing scammers and wallet-draining kits have stolen much more. A report from Web3 bug bounty platform Immunefi revealed $3.9 billion worth of crypto was lost to hacks, frauds, scams and rug pulls in 2022.
Possibly one of the single most high-profile and high-value theft by a wallet drainer in recent times was the January attack on Kevin Rose, the co-founder of the Moonbirds NFT collection.
Rose’s wallet was drained after he approved a malicious signature on a phishing website that transferred over $1.1 million worth of his personal NFTs to the attacker.
