Chainalysis alerts rise in crypto hacks and ransom in 2024

August 15, 2024 Coin Telegraph

Analysis

Cryptocurrency hackers have been returning to their roots to targeting centralized exchanges amid a spike in the Bitcoin price in 2024.

A new report indicates that while overall illicit transactions in cryptocurrency markets declined in 2024, certain types of crypto-related criminal activity rose.

Aggregate illicit activity in crypto has dropped 19.6% year-to-date (YTD), falling from $20.9 billion to $16.7 billion by July 2024, according to the first part of the mid-year crypto crime update by Chainalysis released on Aug. 15.

Chainalysis found that legitimate crypto activity has been growing faster than illicit activity onchain in 2024, particularly due to positive industry events like the adoption of spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) in the US.

Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Binance Security Team Recovers $73 Million in Stolen Crypto Funds This Year

August 9, 2024 Bitcoin.com

Binance

Crypto exchange Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. This achievement highlights the company’s commitment to improving cryptocurrency security. Binance Recovers $73 Million in Stolen User Funds Crypto exchange Binance announced on Wednesday that its security team […]

Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

White Hat Hackers Rewarded $500,000 Bounty After Exploiting Ronin Network

August 6, 2024 The Daily Hodl

White Hat Hackers Rewarded 0,000 Bounty After Exploiting Ronin Network

Blockchain

Hackers are reaping the rewards after exploiting a Ronin (RON) bridge for $10 million in Ethereum (ETH). According to the gaming-focused blockchain’s X account, white hat hackers have returned $10,000,000 in USDC to the network and will receive $500,000 in compensation for their efforts. “The ETH (~$10 M) has been returned and we expect that […]

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Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Manhattan District Attorney Charges Man Who Allegedly Used Fake Crypto Recovery Business To Steal From Customers

August 2, 2024 The Daily Hodl

crypto

A man who operated a purported crypto asset recovery business has been arrested and is now facing criminal charges for allegedly defrauding dozens of people. In a statement, Manhattan District Attorney Alvin L. Bragg, Jr. says that Michael Lauchlan has been charged with stealing from customers of Coin Dispute Network (CDN), which claimed it can […]

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Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Bitfinex hacker Heather Morgan spotted at Bitcoin Conference 2024

July 29, 2024 Coin Telegraph

bitfinex

Heather Morgan, aka Razzlekhan, has been spotted in several Bitcoin events, the latest being the Bitcoin Conference 2024.

Heather Morgan, sometimes known by her alter ego “Razzlekhan” — a self-styled social engineer and flamboyant rapper — made headlines after being arrested for and subsequently pleading guilty to one of the most audacious cyber heists in history, the 2016 Bitfinex hack of 120,000 Bitcoin, worth $4.5 billion at the time of her arrest.

Contrary to popular belief that she was behind bars, Morgan reportedly appeared at the Bitcoin Conference 2024 in Nashville, sparking curiosity and controversy among attendees. Her presence at several crypto conferences has left the crypto community buzzing with speculation.

When Morgan pleaded guilty on Aug. 3, 2023, she knew she could face up to five years in prison and receive a fine of $250.000. Since then, she’s been awaiting sentencing, scheduled for Nov. 8, 2024.

Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Indian Crypto Exchange WazirX Increases Bounty for White Hat Hackers to $23,000,000

July 23, 2024 The Daily Hodl

bounty

India-based crypto exchange WazirX is increasing a reward offer in hopes of recovering the $230 million that hackers stole from the platform. In a new announcement, WazirX says they are increasing the reward to 10% of the stolen funds, or $23 million. “We invite white hat hackers, blockchain forensics experts and cybersecurity professionals from around […]

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Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Wazirx Offers $23M Bounty to Recover Stolen Assets After Massive Security Breach

July 21, 2024 Bitcoin.com

Wazirx Offers M Bounty to Recover Stolen Assets After Massive Security Breach

bitcoin.com

Indian crypto exchange Wazirx has announced a $23 million bounty program to recover assets stolen in a cyberattack on its multisig wallet. Emphasizing community involvement, co-founder Nischal Shetty outlined the rewards for tracking, freezing, and ethically recovering the stolen funds. He insists that the attack was not due to phishing but involved multiple hardware wallets […]

Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Crypto Sleuth Suggests $230,000,000 WazirX Crypto Hack Linked to North Korea’s Lazarus Group

July 18, 2024 The Daily Hodl

Crypto Sleuth Suggests 0,000,000 WazirX Crypto Hack Linked to North Korea’s Lazarus Group

breaches

A crypto exchange based out of India has confirmed a multi-million dollar security breach on a multi-sig wallet. According to the India-based exchange WazirX, the incident has led the exchange to temporarily halt Indian rupee (INR) and crypto withdrawals. “Update: We’re aware that one of our multisig wallets has experienced a security breach. Our team […]

The post Crypto Sleuth Suggests $230,000,000 WazirX Crypto Hack Linked to North Korea’s Lazarus Group appeared first on The Daily Hodl.

Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Li.Fi releases incident report following $11M hack

July 18, 2024 Coin Telegraph

Li.Fi releases incident report following M hack

Coin Telegraph

The team also announced it was working on a voluntary compensation plan to reimburse 100% of funds to users affected by the exploit.

Following the $11.6 million exploit of the Li.Fi protocol, an API used to bridge and swap digital assets across blockchains, the Li.Fi team released an update outlining the technical details of the breach.

According to the security update, the deployment of a new smart contract facet was ground zero for the malicious attack. A vulnerability in the code allowed users calling the smart contract to initiate calls to any contract without prior validation.

This function is a result of code taken from the LibSwap library, used to facilitate calls between decentralized exchanges, service providers, and clients to coordinate the asset bridging and swapping processes.

Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Indian Crypto Exchange Wazirx Updates on Major Multisig Wallet Hack

July 18, 2024 Bitcoin.com

bitcoin.com

Indian cryptocurrency exchange Wazirx has provided an update on the over $230 million security breach in its multisig wallet, which involved Liminal’s custody services. The exchange detailed the incident and ongoing recovery efforts, promising transparency and further updates. “We have already blocked a few deposits and reached out to concerned wallets for recovery,” the crypto […]

Hacks