Cryptocurrency

Cryptocurrency Hackers Steal Over $1.2 Billion in 2024

Thursday. August 29 at 5:30 PM

1 min. read

Cryptocurrency hackers have stolen more than $1.2 billion, with recent hacks in August raising concerns about crypto adoption. In 2024, $1.21 billion in digital assets were lost to hacks and rug pulls across 154 exploits, a 15.5% increase from 2023. Mitchell Amador, CEO of Immunefi, warned that hackers may surpass 2023's theft. Despite exceeding last year's activity, there has been a decrease in monthly hacks. August saw $15 million stolen, significantly less than July's $274 million. DeFi accounted for all August exploits, while CeFi remains a major security risk. Immunefi, a cybersecurity platform, protects over $190 billion in user funds. Major hacks in August included the Ronin Network and Nexera exploits, both stemming from code vulnerabilities during upgrades. CeFi incidents, though fewer, can result in massive losses. Overall, the crypto industry faces ongoing security challenges.

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Growing Threat of North Korean Cryptocurrency Hackers

Wednesday. January 15 at 8:00 AM

The United States, Japan, and South Korea have jointly issued a warning about the increasing danger posed by cryptocurrency hackers linked to North Korea. Suspected groups like the Lazarus Group are believed to be behind major cyber thefts in the Web3 realm, including the $600 million Ronin network hack and the $230 million WazirX exchange hack. These hackers now pose a serious risk to the global financial system's integrity and stability, aiming to fund North Korea's missile programs through cryptocurrency theft. The three nations emphasize the need for collaboration between public and private sectors to combat these cybercrimes effectively. Recent sanctions by South Korea against North Koreans involved in cryptocurrency heists highlight the growing threat. North Korean hackers have been responsible for significant crypto hacks, stealing over $1.34 billion in digital assets in 2024 alone. The rise in sophisticated attacks indicates an improvement in their methods, with more lucrative exploits becoming common.

Cryptocurrency

Semler Scientific Increases Bitcoin Holdings

Tuesday. January 14 at 10:00 PM

Semler Scientific has acquired an additional 237 Bitcoin for around $23 million, bringing their total holdings to 2,321 BTC valued at nearly $192 million. The company purchased the BTC at an average cost of less than $83,000 using funds from stock sales and cash flow. By issuing over $120 million in stock, Semler has boosted its 'Bitcoin yield' from 72.6% to 99.3%. This metric measures the ratio of BTC holdings to outstanding shares, reflecting the company's performance. CEO Doug Murphy-Chutorian emphasized Semler's focus on acquiring and holding Bitcoin to drive growth. The concept of 'Bitcoin yield' was popularized by MicroStrategy, whose stock has surged by 2,000% since investing in BTC. Other companies like Hoth Therapeutics and Genius Group have also followed suit. With corporate treasuries collectively holding over $54 billion in BTC, Semler ranks 13th among public companies. Investment managers are increasingly turning to Bitcoin as a hedge against inflation and fiscal uncertainty in the US.

Cryptocurrency

Revolutionizing the Web3 Crypto Space

Tuesday. January 14 at 7:00 PM

The Cardano blockchain is currently experiencing challenges as significant holders sell off, resulting in a 20% decline in ADA's value. This raises concerns about its ability to recover stability. On the other hand, Chainlink's outlook for 2025 appears uncertain, struggling to maintain crucial support levels with conflicting expert opinions on its future trajectory. In contrast, Web3Bay (3BAY) is establishing its presence in the Web3 crypto realm. With a presale price of just $0.0039675 in stage 3, Web3Bay has raised over $630,000, indicating a potential 6430% ROI upon launch. Positioned as a key player for e-commerce enthusiasts and crypto traders, Web3Bay is seizing opportunities in a shifting market landscape. Cardano faces pressure from large ADA sales, while Chainlink's future remains ambiguous. In contrast, Web3Bay's structured presale offers growth potential and strategic advantages for early backers, reshaping the decentralized e-commerce landscape.

Cryptocurrency

Debunking Hype Around MacOS Malware

Tuesday. January 14 at 5:00 PM

A recent macOS malware, Banshee, managed to evade detection for over two months by mimicking Apple's encryption scheme. While media outlets raised alarm, Apple security researcher Patrick Wardle downplays the threat, stating the malware's core capabilities are basic. Banshee, a $3,000 'stealer-as-a-service,' targeted crypto wallets and browser credentials until its source code leaked in November 2024. Despite its evasion tactics, Wardle emphasizes that recent macOS versions already block such threats by default. He suggests focusing on fundamental security practices rather than fixating on specific malware strains. Wardle, a former NSA security researcher, highlights the importance of balancing security and usability in Apple's approach. The incident underscores the need for accurate communication of security threats, as technical details can be lost in translation to the public.

Cryptocurrency