Bybit’s CEO, Ben Zhou, has declared a “war against Lazarus” following a $1.4 billion hack attributed to the North Korean group. He announced a bounty program offering up to 10% rewards for tracing stolen funds, while the exchange claims to have restored client assets to 100%. This incident marks the largest hack in crypto history, with North Korean hackers reportedly stealing over $3 billion from exchanges since 2017.
about Bybit CEO Launches Bounty to Combat Lazarus After Major HackPeckShield
0 in Finance and 0 in Crypto last weekOnyxcoin Surges 1500 Percent Amid Upcoming Blockchain Launch and Whitepaper
Onyxcoin (XCN) has surged 1,500% in the past month, reaching $0.038, driven by bullish sentiment surrounding an upcoming whitepaper and blockchain launch. The asset’s market cap has soared to $1.23 billion, with trading volume increasing by 68.9% in 24 hours. Analysts suggest further potential for growth as XCN remains below its all-time high of $0.184, with expectations of reaching $0.08 and possibly $0.1.
about Onyxcoin Surges 1500 Percent Amid Upcoming Blockchain Launch and WhitepaperHacker Steals 29 Million Dollars in SUI from Victim in December Theft
A hacker recently stole $29 million worth of Sui (SUI) from a single victim, with the theft occurring on December 12th. The funds were transferred to Ethereum via Bridgers and laundered through Tornado Cash, complicating traceability due to limitations in Sui analytics tools. In 2024, crypto hacks and scams resulted in over $3.01 billion in losses, marking a 15% increase from the previous year, although still less than the $3.6 billion lost in 2022.
about Hacker Steals 29 Million Dollars in SUI from Victim in December TheftThe Eccentric Life and Legacy of John McAfee in Cryptocurrency
John McAfee, the controversial cybersecurity pioneer and cryptocurrency advocate, faced numerous legal troubles, including tax evasion and allegations of promoting fraudulent ICOs. After his arrest in Spain in 2020, he was found dead in his prison cell, ruled a suicide. His legacy remains complex, marked by eccentricity, conspiracy theories, and a significant impact on the early crypto industry.
about The Eccentric Life and Legacy of John McAfee in CryptocurrencyJohn McAfee’s Twitter Promotes Controversial AIntivirus AI Token Posthumously
John McAfee’s X account has resurfaced to promote “AIntivirus,” an AI-driven token on the Solana blockchain, claiming a posthumous return to the crypto space. While his widow supports the project as a tribute to his legacy, skepticism abounds regarding its authenticity, with some analysts labeling it a potential scam. Amidst conspiracy theories and doubts about account security, the crypto community remains divided on the legitimacy of this new venture.
about John McAfee's Twitter Promotes Controversial AIntivirus AI Token PosthumouslyCrypto Laundering Surges to 1.3 Billion Amid Evolving Hacker Tactics
In 2024, crypto laundering from hacking surged to $1.3 billion, a 280% increase from the previous year, driven by a booming market and innovative techniques like chain hopping and coin mixing. While phishing losses dropped to $834.5 million, advanced tactics such as social engineering and address poisoning emerged, complicating prevention efforts.
about Crypto Laundering Surges to 1.3 Billion Amid Evolving Hacker TacticsCrypto Losses Surge to 3 Billion in 2024 Despite Recovery Efforts
In 2024, crypto-related security breaches surged, leading to losses exceeding $3 billion, with $2.15 billion from hacks and $834.5 million from scams. Recovery efforts managed to reclaim $488.5 million, despite a significant rise in incidents, particularly in the DeFi sector. Phishing remains a critical threat, exemplified by recent attacks targeting high-profile individuals and organizations.
about Crypto Losses Surge to 3 Billion in 2024 Despite Recovery EffortsCrypto Scams and Hacks Lead to Record Losses of 3 Billion Dollars in 2024
In 2024, the crypto sector faced unprecedented losses of $3.01 billion due to hacks and scams, with North Korean hackers responsible for $1.34 billion, including a significant $300 million theft from Japan’s DMM Exchange. The WazirX hack revealed critical vulnerabilities in crypto infrastructure, leading to $230 million in losses and highlighting the urgent need for enhanced security measures. Despite efforts, the recovery rate remains low, emphasizing the ongoing threat posed by sophisticated cybercriminals.
about Crypto Scams and Hacks Lead to Record Losses of 3 Billion Dollars in 2024Crypto industry faces over 3 billion dollars in losses from hacks and scams
In 2024, the cryptocurrency sector faced over $3 billion in losses due to hacks and scams, with $2.15 billion attributed to hacks and $834.5 million to scams, marking a 15% increase from 2023. Decentralized finance platforms were primary targets, highlighted by significant breaches like the AlphaX DeFi hack and Lumos Bridge exploit. Despite the rise in losses, the frequency of attacks decreased towards the end of the year, with a notable increase in phishing scams, prompting calls for enhanced security measures as the industry matures.
about Crypto industry faces over 3 billion dollars in losses from hacks and scamsWolf Capital Co-Founder Pleads Guilty to Nine Million Dollar Ponzi Scheme
Travis Ford, co-founder and head trader of Wolf Capital, has pleaded guilty to wire fraud conspiracy after raising $9.4 million from approximately 2,800 investors with false promises of 547% annual returns. The funds were misappropriated for personal gain rather than investment, and Ford admitted the promised returns were not viable. He faces a maximum penalty of five years, with sentencing yet to be scheduled, amid a broader crackdown on crypto-related scams globally.
about Wolf Capital Co-Founder Pleads Guilty to Nine Million Dollar Ponzi SchemeCrypto Hacks and Scams Result in Over 3 Billion Dollars Lost in 2024
Losses from crypto hacks and scams surged to over $3.01 billion in 2024, marking a 15% increase from the previous year, according to PeckShield. This total includes $2.15 billion from hacks and $834.5 million from scams, with $488.5 million recovered. Notably, North Korean hackers were responsible for stealing a record $1.34 billion in digital assets across 47 incidents, with the largest heist occurring in May when over $300 million in Bitcoin was taken from the Japanese exchange DMM.
about Crypto Hacks and Scams Result in Over 3 Billion Dollars Lost in 2024CFPB Proposes Rule for Crypto Firms to Refund Users for Hacked Funds
The CFPB has proposed a rule requiring crypto asset service providers to reimburse users for funds lost to hacks, aligning protections for digital assets with those for fiat currency under the Electronic Fund Transfer Act. This move comes amid rising crypto thefts, with over $2 billion reported stolen in 2024 alone. If enacted, the rule could impose significant financial burdens on US crypto firms, necessitating substantial reserves to cover potential losses.
about CFPB Proposes Rule for Crypto Firms to Refund Users for Hacked Funds