In Cyprus, authorities are investigating a recent cyber attack that resulted in the theft of a significant amount of cryptocurrency from a local resident. This incident underscores the importance of security in the digital asset realm.
Hacker Attack on Cryptocurrency User
Recently in Cyprus, hackers stole $448,000 in digital assets from a 48-year-old man by breaching his email and draining his crypto wallet. According to Cyprus Mail, the attackers accessed the victim's account on June 11, discovering his wallet's password and quickly transferring assets to another account.
Increasing Scale of Cybercrime in the Crypto Industry
The Cyprus case adds to an alarming trend of rising cybercrime incidents in the cryptocurrency sector. According to a report by Hacken, the industry suffered losses of $3.1 billion due to hacks and scams in 2025. This amount already exceeds last year's losses by over 6%. More than 59% of the stolen funds, totaling $1.83 billion, were attributed to access-control failures across both DeFi and CeFi platforms.
Security Recommendations
The Cyprus police urged cryptocurrency users to enhance their security measures. Authorities recommend using reliable platforms with two-factor authentication and secure wallets equipped with advanced features. Additionally, users are advised to create unique and complex passwords for each account and avoid suspicious links or apps that may lead to phishing scams.
The incident in Cyprus highlights the critical importance of cyber security in the cryptocurrency sector, particularly amid the rise in cybercrime. Users must take necessary precautions to protect their assets.
