topic Crypto hacking thefts double to US$1.4 billion in Industry News

Crypto hacking thefts double to US$1.4 billion

Caute_cautim — Tue, 09 Jul 2024 21:53:18 GMT

Hi All

The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said.

https://www.itnews.com.au/news/crypto-hacking-thefts-double-to-us14-billion-609523?utm_source=feed&utm_medium=rss&utm_campaign=iTnews+

Regards

Caute_Cautim

Re: Crypto hacking thefts double to US$1.4 billion

dcontesti — Wed, 10 Jul 2024 22:23:16 GMT

Again, I believe the number may be low but it is not amazing that it has increased. In MHO, it will continue to double.

Re: Crypto hacking thefts double to US$1.4 billion

HTCPCP-TEA — Fri, 12 Jul 2024 09:42:08 GMT

Indeed. Expect it to rise exponentially over the coming years.

Where crimes occur resulting in crypto-losses, the de-fi nature of things means there is little that can be done to recover the crypto itself.

Yes, tracking is simple enough to an extent, but with multiple "crypto-washing sites" you have little to no hope of long term retribution.

Welcome to decentralised, unpoliced, unregulated commerce and trade folks.

Re: Crypto hacking thefts double to US$1.4 billion

dcontesti — Fri, 12 Jul 2024 19:30:57 GMT

Recently in Canada (actually what is called the GTAAH area (Toronto and Hamilton)) 3 folks watched fake videos (deepfakes) and lost over $300,000 in Crypto.

Sadly, it seems that not enough is being done to educate the masses and the fraudsters are taking full advantage. The article suggests that over $300 million has been lost in Canada alone.

https://toronto.ctvnews.ca/it-s-scary-3-ontario-men-lose-373-000-to-crypto-investment-fraud-1.6960742

There are several links in the post that provide very useful tips that one can use if doing Security Awareness training for the public or even to just share with friends.