On-chain investigator ZachXBT recently shared data revealing that Coinbase users lose more than $300 million annually due to social engineering scams. Over the past few months, numerous users have taken to social media to report sudden account restrictions, which ZachXBT attributed to the exchange’s aggressive risk models and a failure to mitigate ongoing scams. The […]
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Cryptocurrency-related hacks resulted in nearly $74 million in losses in January 2025, marking a staggering ninefold increase from December, according to a new report from Immunefi. The sharp rise came despite a nearly 45% year-over-year decline compared to January 2024, when losses totaled $133 million. The bulk of the losses stemmed from two major incidents: […]
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The crypto industry lost a further $73.9 million in January due to exploits, representing a ninefold increase month-over-month.
Over the weekend, hackers targeted the social media accounts of Visa and Hollywood actor Dean Norris to promote fraudulent crypto tokens. The incidents have raised concerns about the increasing use of compromised high-profile accounts to execute crypto scams. Visa’s Facebook compromise On Jan. 26, hackers accessed Visa’s official Facebook page and used it to promote […]
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The disclosure was made after crypto sleuth ZachXBT wrote about the exploit in his “Investigations by Zach” Telegram channel.
Noones, a peer-to-peer crypto marketplace, suffered a security breach resulting in approximately $8 million in losses. On Jan. 24, on-chain investigator ZachXBT noted that the exploit likely occurred between Jan. 1 and Jan. 2, with the platform’s hot wallets processing hundreds of questionable transactions. According to him, these outflows, each valued under $7,000, collectively amounted […]
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The Singapore High Court has approved Zettai Pte Ltd’s request to convene a meeting with creditors of the crypto exchange WazirX, allowing the company to present its restructuring proposal. The decision is a critical step in Zettai’s efforts to address debts and recover from the $230 million hack of WazirX linked to North Korea’s Lazarus […]
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More than $70 million worth of cryptocurrencies were drained from the platform, likely by a sophisticated group of actors.
Singapore-based crypto exchange Phemex has temporarily suspended withdrawals following a reported $37 million exploit targeting one of its hot wallets. On Jan. 23, the exchange announced this decision to allow for an emergency inspection and to enhance its wallet security measures. Phemex assured users that withdrawals would resume soon and apologized for the inconvenience. Cyvers, […]
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The hacker appeared to link a fake X account as a Nasdaq affiliate and used the Nasdaq account to share its post promoting a memecoin.
Indian crypto exchange WazirX has frozen $3 million in USDT as part of efforts to recover funds stolen during a $230 million hack in July 2024. The platform confirmed this progress in a Jan. 17 update on X, saying this move showcases its determination to safeguard user funds and rebuild trust after the breach. It […]
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Blockchain security firm Scam Sniffer warned that crypto investors are facing a surge in malware scams on social media platform Telegram compared to the traditional phishing methods. While phishing still causes substantial losses—estimated at nearly half a billion dollars in 2024—its growth has plateaued. In contrast, Scam Sniffers reported that Telegram malware scams represent a […]
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TRM Labs found illicit volume is down 24% since 2023 to $45 billion, representing just 0.4% of overall crypto transactions.
The attackers now opt for more 'sophisticated' malware to target crypto investors via trading or airdrop groups on Telegram.
The US government ordered that the 94,000 Bitcoin (BTC) seized in connection with the 2016 Bitfinex hack be returned to the exchange as part of an in-kind restitution process. The ruling stated that there is no victim for the specific offenses of conviction, resulting in the return of all the assets seized from the “Bitfinex […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Japan, South Korea, and the US warned the global crypto industry about threats posed by hacks attributed to North Korean actors in a joint statement published on Jan. 14. According to the statement, groups allegedly tied to the Democratic People’s Republic of Korea (DPRK) are targeting exchanges, crypto custodians, and individual users. It highlighted the activity […]
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Crypto laundering from hacking activities skyrocketed in 2024, with $1.3 billion funneled through illicit methods. On Jan. 13, blockchain security firm Peckshield reported a staggering 280% increase compared to the $342 million recorded in 2023. The firm stated that its analysis focused on incidents involving hack-related losses exceeding $1 million. PeckShield noted that the booming […]
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23pds, the pseudonymous Chief Information Security Officer (CISO) at blockchain security firm SlowMist, has raised concerns about potential phishing attacks targeting more than seven million OpenSea users whose emails were leaked in a June 2022 breach. 23pds stated: “Remember the attack on the OpenSea mail service provider in 202[2] that led to the leakage of […]
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The compromised social media account is merely the latest in a string of hacking incidents on X over the last several months.
A proposed CFPB rule could allow crypto users to have protections similar to those of US bank account holders by considering the definition of “funds.”
According to the security firm, hacks accounted for more than 70% of crypto losses due to illicit activities in 2024, compared to 30% for scams.
According to cybersecurity firm CertiK, the number of crypto hacks and exploits rose to 303 incidents in 2024, up from 282 in 2023.
The security incidents occurred days after a researcher discovered a critical bug in a Virtuals Protocol audited contract, which was fixed.
CoinSwitch expects it will take two years to distribute $70 million in recovery funds to WazirX users who lost money due to an alleged cyberattack last year.
The rise of crypto has become a breeding ground for financial scams in France, contributing to a surge in fraudulent activity that has authorities scrambling to protect consumers. The Paris Public Prosecutor’s Office, along with regulatory bodies like the AMF and ACPR, are particularly concerned about the growing number of schemes involving bogus crypto investments. […]
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Hyperliquid, a Layer 1 blockchain, and decentralized exchange, faced sharp declines in token value and total value locked (TVL) over the weekend after reports surfaced of potential involvement by North Korean hackers. Security expert Taylor Monahan flagged suspicious wallet activity linked to the Democratic People’s Republic of Korea (DPRK) on Dec. 22, triggering a 20% […]
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Japanese police and U.S. agencies said the attack was "affiliated" with TraderTraitor, which is characterized by social engineering.
The FBI, Japan’s National Police Agency, and the Department of Defense Cyber Crime Center have confirmed that North Korean-linked hackers orchestrated the May 2024 $305 million breach of the Japanese crypto exchange DMM Bitcoin. A joint statement issued on Dec. 23 attributed the attack to TraderTraitor threat actors, also known as Jade Sleet, UNC4899, and […]
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Cybersecurity company Kaspersky revealed that malicious actors have devised a new scam involving seed phrases to target unsuspecting crypto users, according to a Dec. 23 blog post. This sophisticated scheme preys on individuals’ curiosity and dishonesty, leading to financial losses for unsuspecting victims. How the scam works Seed phrases, crucial for recovering access to crypto […]
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