As a seasoned analyst with years of experience in the cryptocurrency market, I can confidently say that December’s decline in crypto losses is a breath of fresh air. It’s like taking a break from a rollercoaster ride without the fear of plummeting at any moment. However, it’s important to remember that while these statistics are encouraging, we must remain vigilant against persistent threats such as phishing scams.
The fact that even well-established figures in the crypto world like Animoca Brands’ co-founder Yat Siu can fall prey to phishing attacks serves as a stark reminder that no one is immune. It’s like a skilled pickpocket who manages to snatch your wallet even when you have it clutched tightly between two hands.
In the end, let me leave you with a bit of humor to lighten the mood. They say in the crypto world, the best defense is a good offense – but what do you call someone who’s constantly attacking their own phishing scams? A self-phisher!
In December, there was a noticeable decrease in the amount of loss due to exploits, hacking incidents, and scams when compared to past months.
In January 2024, according to the most recent findings from CertiK, a firm specializing in blockchain security, the estimated total losses amounted to roughly $28.6 million – marking the smallest monthly loss for that year.
December Crypto Losses Are 2024’s Lowest
As a researcher delving into the realm of digital finance, I’ve discovered that exploits have had a substantial influence on our financial landscape, accounting for approximately $26.7 million. This figure is significantly larger than the combined impact of flash loan attacks and exit scams, which contributed around $1.9 million. Notably, among the flash loan attacks, three incidents stood out: CloberDex experienced losses worth $501,279, followed closely by Clipper DEX with $450,811, and MoonMaker incurred a loss of $319,320.
In December, Gempad suffered the largest single hack, resulting in damages amounting to approximately $2.14 million. Other notable hacks included FBD, which sustained losses of around $1.07 million, and Vesta DAO, losing about $401,428. An infographic by CertiK showed that December saw a significant drop in overall losses compared to the peak months earlier in the year when losses reached tens of millions each month.
The report additionally drew attention to the escalating danger posed by phishing scams, as the most affected party (location 0x751e) suffered a staggering loss of $7.87 million, thereby ranking among the most expensive phishing cases this year. Various other phishing events resulted in losses ranging from $1.4 million to $2.8 million per case.
Phishing Scams Persists
Last month, a user of cryptocurrency disclosed that they had fallen victim to a phishing scam, losing approximately $300,000. This unfortunate incident occurred when they clicked on a suspicious link for a KakaoTalk meeting that was sent as a private message on platform X. The link, believed to install malware, successfully compromised several digital wallets, including Ethereum and Solana accounts. It is said that the attacker then transferred the funds to a wallet linked to the BingX exchange.
Lately, even with two-factor authentication (2FA), the account of Animoca Brands’ co-founder Yat Siu, identified as his X account, was hacked. The intruders then advertised a fake token called “MOCA” as part of their scheme. This deceptive tactic, linked to Pump.fun, aimed at over 15 crypto-related accounts and resulted in the theft of approximately $500,000.
SlowMist, a security company specializing in blockchain, discovered an elaborate phishing scheme that utilized false Zoom meeting links to swipe cryptocurrencies. This trick was designed to resemble the genuine Zoom interface, causing numerous victims to download what they believed was a necessary installation package for the meetings. In reality, this software turned out to be malware, which stealthily gathered sensitive data such as cryptocurrency wallet information. As a result, over $1 million in losses were incurred by the unfortunate victims.
It appears that some hackers, possibly connected to Russian-language cyber groups, allegedly moved illicit funds they had obtained through theft across platforms such as Binance and Gate.io for laundering purposes.
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2025-01-05 00:23