The world of cryptocurrencies has faced a storm of attacks in 2024, with hackers stealing $2.3 billion through chain heists. This is a sharp increase of 31.61% from 2023, highlighting the ongoing risks in the crypto space.
This report covers the top hacking incidents of the past week, the top phishing scams, and what’s in store for 2025.
2024: A record year for crypto breaches
In 2024, hackers have turned to cryptocurrencies with unprecedented intensity. CertiK’s annual report revealed 760 security breaches, resulting in losses of nearly $2.36 billion. These attacks have become more frequent and aggressive, using various methods to exploit vulnerabilities.
Of these, phishing attacks have proven to be the most common and lucrative, accounting for a significant portion of stolen funds.
Phishing: the biggest threat in the crypto world
Phishing scams caused $1.05 billion in losses in 2024, representing 40% of all stolen cryptocurrencies. With 296 incidents recorded, the average loss per case was $2.8 million.
Phishing attacks increased by 328% compared to 2023, cementing their place among the most dangerous threats in the industry. Unlike traditional scams, phishing takes advantage of the irreversible nature of cryptocurrency transactions, making it almost impossible for victims to recover their funds.
Indian crypto market rocked by scams
In India, security concerns have continued to grow. Sumit Gupta, CEO of CoinDCX, has hinted at potential acquisitions to rebuild trust and help recoup losses from incidents such as the WazirX hack. Gupta’s tweets highlighted the growing prevalence of cyber threats in the Indian crypto space, where major breaches have made investors wary.
An alarming scam involves scammers posing as legitimate users in YouTube comments sections. These scammers present wallets with large balances and trick victims into paying small gas fees, only to then steal more via multi-signature wallets.
Twitter hack of the Superchain ecosystem
The official Twitter account of the Superchain ecosystem has been hacked, with attackers posting malicious links to steal user information. Although Superchain regained control, the incident was a stark reminder of the dangers users face online. The company has issued urgent warnings to avoid clicking on fraudulent links.
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As 2025 approaches, we can hope for stronger security measures to protect digital assets and create a safer environment for investors.
