• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Crypto Industry Under Attack: Over $3 Billion Stolen in Hacks and Scams

user avatar

by Giorgi Kostiuk

a year ago


The cryptocurrency industry has seen a rise in cybercrime, threatening vast amounts of money. Security organizations like PeckShield and CertiK highlight these threats and efforts by Southeast Asian authorities to address them.

Rise in Cryptocurrency Cybercrime

According to companies like PeckShield, over $3 billion was stolen in hacks and scams in 2024, a $400 million increase from the previous year. While the number of incidents has decreased, the complexity and cost of each attack have risen. Chainalysis notes that over $2.2 billion of stolen funds were linked to decentralized finance platforms, which are particularly vulnerable to these crimes.

Thai Authorities' Intervention

Thai authorities seized 996 Bitcoin mining devices in a multi-million dollar electricity theft case. The operation, conducted in collaboration with regional organizations, resulted in the seizure of equipment valued at approximately $2.88 million.

Regional Efforts Against Crypto Mining

Southeast Asian countries, including Malaysia, are intensifying efforts against illegal crypto mining, associated with electricity theft. These actions aim to maintain fairness and security in the developing digital economy.

The rise in cryptocurrency crimes underscores the need for stricter security measures. Increased attention and cooperation between governments and companies in the crypto industry will help mitigate risks and provide a reliable foundation for future innovations.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Fenwick West Settles for $54 Million Over FTX Allegations

chest

US law firm Fenwick West has agreed to pay $54 million to settle claims related to its legal services for the defunct crypto exchange FTX.

user avatarKenji Takahashi

The Legal Fallout from FTX's Collapse

chest

FTX collapsed in November 2022 due to mismanagement and fraud, leading to significant legal repercussions and the conviction of founder Sam Bankman-Fried.

user avatarDiego Alvarez

Potential ETF Inflows Could Boost XRP Price

chest

The CLARITY Act, pending a Senate vote, could lead to significant ETF inflows into XRP, estimated between 4 to 8 billion, potentially boosting its price.

user avatarMaria Fernandez

Ethereum Price Sees Major Reversal but Smart Money Remains Active

chest

Ethereum's price has reversed most of its gains from April, finding support just above $2,000, while smart money investors remain active in accumulating tokens despite market downturns.

user avatarGustavo Mendoza

Bitcoin Spot ETFs Face Record Withdrawals Amid Market Losses

chest

Bitcoin Spot ETFs faced significant net outflows totaling 126 billion last week, marking the heaviest withdrawals since January.

user avatarRajesh Kumar

Decline in XRP Whale Activity Signals Market Compression

chest

XRP whale activity has significantly decreased, indicating a potential market compression phase.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.