2024 Crypto Losses Attributable to Deepfakes Projected to Exceed $25 Billion

June 28, 2024 Bitcoin.com

2024 Crypto Losses Attributable to Deepfakes Projected to Exceed Billion

bitcoin.com

Losses attributed to crypto crimes involving the use of deepfakes are projected to surpass $25 billion in 2024. According to the latest Bitget research study, these losses are expected to continue rising if no regulatory intervention is introduced to curb this type of fraud. Educating users and implementing comprehensive legal and cybersecurity frameworks globally are […]

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Crypto losses from hacks and scams soared by 113% in Q2 2024 to reach $572M

June 27, 2024 Coin Telegraph

Crypto losses from hacks and scams soared by 113% in Q2 2024 to reach 2M

Blockchain security

Losses from scams and exploits increased in the second quarter as centralized exchanges lost millions, reversing a previous downtrend.

Crypto losses from hacks and scams more than doubled in the second quarter of 2024 compared to the same period the previous year, according to research from blockchain security platform Immunefi.

Over $572 million was lost in Q2, compared to only $220 million in Q2 of 2023. Centralized exchange hacks made up the bulk of the losses in the quarter.

Prior to the second quarter, losses from hacks and scams had been declining, with Immunefi reporting a 23% reduction in Q1. This decline continued through April and most of May, but losses dramatically increased at the end of May and June.

Roaring Kitty GME class action lawsuit dropped after 3 days

Study: Crypto Losses 28% Lower in May; Attackers Primarily Targeting Defi Platforms

June 2, 2024 Bitcoin.com

bitcoin.com

In May, cybercriminals were less successful in their attacks on decentralized platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59.3 million were lost to similar attacks. Gala Games, which incurred a loss of $21 million, and Sonnefinance with $20 […]

Roaring Kitty GME class action lawsuit dropped after 3 days

Iggy Azalea’s anti-scam plan and crypto losses from hacks decline by 12%: Finance Redefined

May 31, 2024 Coin Telegraph

Blockchain security

In a bold move to combat crypto scams, Iggy Azalea pledges to burn her own coins.

The past week in decentralized finance (DeFi) land saw another memecoin frenzy, with celebrities launching their own memecoins — quite a trend shift from 2021–2022 when they launched their own nonfungible tokens (NFTs). Among all the meme hysteria, pop star Iggy Azalea devised a “burning” plan to evade frauds and rug pulls.

In other news, a trader who lost 1,807 liquid-staked Ether (ETH) worth $6.91 million appears to have received a large share of the stolen funds back from scammers. A new report from Immunefi revealed that crypto losses linked to hacks and frauds declined by 12% year-over-year in May.

The top 100 DeFi tokens had a mixed week as price momentum remained sideways where most tokens traded in green and the total value locked in DeFi contracts remained above $100 billion.

Roaring Kitty GME class action lawsuit dropped after 3 days

Defi Platforms Lose More Than $336 Million in Digital Funds in Q1 of 2024, Study Finds

April 1, 2024 Bitcoin.com

Defi Platforms Lose More Than 6 Million in Digital Funds in Q1 of 2024, Study Finds

bitcoin.com

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 […]

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