In a significant surge of cybercrime within the cryptocurrency sector, February 2024 witnessed a staggering amount of financial losses due to various forms of digital asset theft. Crypto liquidations soared past $750 million in a 24-hour period, highlighting the volatility and risk associated with the market. Additionally, a comprehensive report revealed that approximately $160 million was lost to exploits, hacks, and scams throughout the month, marking a slight decrease from January's figures. Notably, phishing, exit scams, and exploits were among the top methods employed by cybercriminals, with phishing alone accounting for about $14.6 million in losses. A shocking revelation tied Tether, a prominent stablecoin issuer, to enabling approximately $75 billion in global victims' losses through the pig-butchering scam, implicating the involvement of criminal organizations in the fraud. Furthermore, hackers managed to steal around $104.73 million across over 20 attacks, indicating a month-over-month decrease of 42% compared to January. Despite these alarming figures, approximately 6.4% of the stolen funds were successfully returned to victims, totaling around $6.7 million. The incidents underscore the persistent security challenges and the high stakes of participating in the cryptocurrency market. In total, the cybersecurity incidents in February 2024 resulted in nearly half a billion dollars in losses across 32 specific incidents, with estimates reaching as high as $404 million in losses due to smart contract hacks, rug pulls/scams, and key compromises.
Crypto criminals perpetrated nearly half a billion dollars in theft last month as security remains a pain point within the digital asset industry https://t.co/qHYy8oqEJ3
SlowMist Monthly Security Report📜 Estimated losses for February 2024: ~$404 Million Sliver lining: Blueberry Protocol & Seneca recovered $6.38M! With the main concern is still on private key leaks—responsible for 75% of total losses. How secure are your digital assets? 🔍…
😱 February saw a total of $411.7M in #web3 losses across smart contract hacks, rug pulls/scams, and key compromises! For a more in-depth breakdown, keep an eye out for our upcoming February Hacks Roundup 👀 https://t.co/K9WOBILWV4
#PeckShieldAlert Hackers stole ~$360.83m across over 21 attacks in February 2024, marking a MoM increase of 97.6% compared to January 2024. Additionally, ~1.8% of the stolen funds have been returned, totaling ~$6.7 million https://t.co/MCykceNun5
Cybercriminals stole more than $104 million worth of crypto in February, marking a 42% decrease compared to January https://t.co/gUptyW8gu4
In 2024, #Web3 lost over $200 million to hacks and rug pulls across 32 specific incidents 👀 Read the full article by @cryptonews to find out more details: https://t.co/d5DDLOcoBg #hacks #Immunefi #cybersecurity
#FPTech: $75 BILLION — That's how much Pig-butchering crypto scammers have stolen from victims https://t.co/OHQW9p3zDc
New study estimates as much as $75 billion in global victims’ losses to pig-butchering scam https://t.co/qbiC6DUXaO
#PeckShieldAlert Hackers stole ~$104.73m across over 20 attacks in February 2024, marking a MoM decrease of 42% compared to January 2024. Additionally, ~6.4% of the stolen funds have been returned, totaling ~$6.7m https://t.co/0W6k4ssAYO
Great job Tether fraud. Enabling Chinese cyber criminals to rip off a whopping $75 billion dollars from victims around the world. So let’s see, Market manipulation Bank fraud Terrorism financing Sanctions evasion Human trafficking Money laundering Dumb tweets https://t.co/IucmutmoxB
Most of Tethers assets are proceeds of pig butchering? You mean to tell me that legitimate institutionalized investors aren’t actually sending billions of dollars to the tether fraud? It’s criminal organizations? Sounds like Tether has been preparing for this bad news. https://t.co/1kPRgvcKMJ https://t.co/elQdXTODYw
#CertiKStatsAlert 🚨 Combining all the incidents in February we’ve confirmed ~$160M lost to exploits, hacks and scams The total is a slight decrease from January with phishing accounting for ~$14.6m Exit scams: ~$58.2m Flash loans: ~$138k Exploits: ~$101M Returned: ~$6.4M… https://t.co/E15cqbeELQ
BREAKING: CRYPTO LIQUIDATIONS OVER THE PAST 24 HOURS SURPASS $750M https://t.co/Q50SNtYntE