Crypto industry lost $572.7M in Q2 2024 due to hacks and scams, with centralized finance platforms being prime targets. Major incidents: $305M hack of DMM Bitcoin and $55M loss for BtcTurk. Ethereum hit hardest. Only 5% recovered. #CryptoSecurity
? A fake Phantom wallet on Apple’s App Store is draining user funds via private keys. Listed as “educational” by Meta Voxify, it mimics the real app. Despite removal, it reappears in searches. #CryptoScam #Update
Indian police arrest Kunjathbail Mujib Sayyad in Mangalore for defrauding 50+ people through the “Max Crypto trading” ponzi scheme, promising returns via the MAX App. The scam raised ₹1.66 crore ($200,000) before vanishing. #CryptoScam #Update
Hackers hijacked @7NewsAustralia’s YouTube account, rebranding it as Tesla to stream deepfake videos of Elon Musk promoting a crypto scam, affecting 1.7M subscribers. Over 150K viewers were lured into a fake project using a QR code. #Cybersecurity #Update
Interpol’s Operation First Light spanned 61 countries, arresting nearly 4,000 people and seizing $257M in assets, $2M in crypto, and freezing 6,745 bank accounts. Advanced blockchain analytics were key. #CryptoScams #Update
? The Supreme Court rules 6-3 that the SEC (@SECGov) must grant defendants a jury trial in federal court for civil fraud cases, ending in-house trials. This change may impact regulatory efficiency and defendants’ rights. #FinancialRegulation
? On June 27, a hacker moved 500 BTC ($30M) from the DMM Bitcoin breach, sparking fears of a market dump. DMM Bitcoin had earlier reported a $300M theft. Japan’s FSA demands thorough investigation. $BTC #CryptoSecurity
Crypto scam ads persist on Facebook and X, despite legal actions by Martin Lewis and Andrew Forrest. The U.K. may impose fines of 10% of global revenue on social networks for failing to protect users. #Update #CryptoScams
? The FBI warns crypto scam victims: Fraudsters posing as lawyers are demanding upfront fees to recover lost funds. This scheme, netting $9.9M between Feb 2023-2024, exploits social media and fake websites. Stay vigilant. #CryptoScam #Update
? The official @Metallica account on X was hacked to promote a fake $METAL cryptocurrency token. False claims of partnerships with @Ticketmaster and @MoonPay were made. This scam mirrors a December 2022 incident. Stay vigilant! #Update #CryptoScam
21Shares partners with Zodia Custody to boost ETP security with 24/7 cold storage access. This move expands Zodia into Swiss and European markets, enhancing crypto asset management for institutional investors. #CryptoSecurity #Update
Billionaire investor @mcuban sold 14+ NFTs worth over $38,500 after a hacker compromised his Gmail account. Notable sales include Pudgy Penguins #6239 for $30,000. Cuban recovered his account by June 25. #Crypto #Update
North Korean hackers Lazarus Group likely behind a $4.3M attack on Bitcoin-focused defi platform ALEX Lab in May. ALEX Lab works with international law enforcement to recover funds and boost security. #CryptoSecurity #Update
The Ethereum Foundation’s mailing list was compromised on June 23, 2024, leading to phishing attacks. Tim Beiko reported the breach. A vulnerability in SendPulse is suspected. The Foundation regained control quickly. This highlights ongoing security threats in crypto. #CryptoSecurity
