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Cryptocurrency
User Regains $129 Million in USDT Following Phishing Attack Loss
The cryptocurrency world is often fraught with risks, and stories of lost funds are not uncommon. However, the tale of a user who inadvertently transferred $129 million USDT to a phishing address, only to have all the funds returned, is nothing short of remarkable. Initially reported by Wu Blockchain, this incident not only underscores the dangers associated with digital currency transactions but also presents an extraordinary example of fund recovery.…
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Cryptocurrency
User Reclaims $129 Million in USDT Following Phishing Scam Loss
The astonishing story of a cryptocurrency user who inadvertently sent $129 million USDT to a phishing address and remarkably recovered all the funds is nothing short of extraordinary. Initially brought to light by Wu Blockchain, this incident not only exposes the inherent risks associated with cryptocurrency transactions but also presents a rare and exceptional case of fund retrieval. Understanding the Loss: How It Happened The unfortunate incident occurred when the…
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Cryptocurrency
Russian Cybercriminal Extradited to US in $16M Ransomware Case
The United States Department of Justice has extradited Evgenii Ptitsyn, a 42-year-old Russian national, from South Korea. Ptitsyn faces serious charges related to his alleged involvement with the Phobos ransomware, a notorious tool that has wreaked havoc on numerous organizations worldwide. While some accomplices contributed technical skills or facilitated the transactions of the ransomware, Ptitsyn is accused of a more pivotal role. He allegedly orchestrated the movement of more than…
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Cryptocurrency
Russian Cybercriminal Extradited to US in $16M Ransomware Case
The United States Department of Justice (DOJ) has successfully extradited Evgenii Ptitsyn, a 42-year-old Russian national, from South Korea. This move is part of a major crackdown on the notorious Phobos ransomware, which has wreaked havoc on both public and private sectors worldwide. Ptitsyn faces serious charges related to facilitating the movement of over $16 million through the sale, distribution, and deployment of this damaging malware. The ransomware has impacted…
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Cryptocurrency
$7 Million Taken in Cross-Chain Exploit on Fantom Network
In a concerning development for the decentralized finance (DeFi) ecosystem, Polter Finance, a prominent crypto lending and trading platform operating on the Fantom blockchain, reported a significant security breach. The firm disclosed a loss exceeding $7 million, attributed to a sophisticated smart contract hack. This incident has spotlighted the pervasive security vulnerabilities within the DeFi sector, particularly affecting platforms engaged in cross-chain operations, as highlighted by Cyvers Alerts. Details of…
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Cryptocurrency
$7 Million Taken in Cross-Chain Breach on Fantom Network
In an alarming incident that sent ripples across the decentralized finance (DeFi) community, Polter Finance, a notable crypto lending and trading platform operating on the Fantom blockchain, announced a significant financial loss. The platform reported a substantial deficit exceeding $7 million, attributing the loss to a sophisticated smart contract hack. This incident has spotlighted potential security vulnerabilities prevalent in the DeFi ecosystem, particularly in cross-chain operations, as highlighted by reports…
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Cryptocurrency
Stolen Assets Exceed $30 Million in One Week
The cryptocurrency landscape is currently grappling with a surge in cyber attacks, impacting decentralized finance (DeFi) applications, smart contracts, and social media accounts associated with various crypto projects. The previous week has been particularly alarming, with financial damages surpassing the $30 million mark. These incidents highlight the urgent need for enhanced security measures as the crypto ecosystem continues to evolve and expand. 1. Giggle Academy’s X Account Breach In a…
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Cryptocurrency
Stolen Assets Surpass $30 Million in a Week
The cryptocurrency market continues to grapple with a surge in cyber attacks, impacting decentralized finance (DeFi) applications, smart contracts, and even social media accounts associated with crypto projects. In the past week alone, the financial losses from these attacks have surpassed a staggering $30 million. This alarming trend underscores the urgent need for enhanced security measures as the crypto ecosystem evolves and expands. 1. Giggle Academy’s X Account Breach In…
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Cryptocurrency
In 2024, Crypto Thefts Hit $800M Due to Ice Phishing and Wallet Draining
The year 2024 has seen a significant surge in cryptocurrency-related phishing scams, with losses surpassing an alarming $800 million, according to data from CertiK alerts. This upward trend is particularly evident in the second quarter, which recorded the highest number of incidents, totaling 67. The month of May, in particular, stood out with 25 separate hacking incidents. These losses are primarily attributed to sophisticated tactics such as Ice Phishing, a…
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Cryptocurrency
In 2024, Crypto Thefts Hit $800M, Fueled by Ice Phishing and Wallet Draining
In the digital landscape of 2024, phishing scams have taken a significant toll on the cryptocurrency sector, exceeding losses of $800 million, according to CertiK alerts. The second quarter of the year emerged as the most impacted period, with a staggering 67 incidents reported. The month of May alone accounted for 25 of these malicious activities, marking it as the peak month for crypto-related hacks. These substantial losses are primarily…
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