In 2024, cryptocurrency scams reached unprecedented levels, with total scam revenue estimated between $9.9 billion and $12.4 billion. A significant contributor to this surge is the rise of “pig butchering” scams, where fraudsters build fake relationships to deceive victims into fraudulent investments. The increasing use of generative artificial intelligence (GenAI) has made these scams more … Read more
Argentine President Javier Milei is embroiled in controversy after the cryptocurrency $LIBRA, which he promoted, experienced a significant crash, leading to substantial investor losses. The incident has sparked fraud allegations and calls for his impeachment. Milei denies actively promoting the cryptocurrency, stating he merely shared information about it. Over 110 complaints have been filed, prompting … Read more
The United Nations Office on Drugs and Crime (UNODC) reports a surge in “pig butchering” scams, where criminals establish fake relationships to defraud victims. These scams have become more sophisticated, employing technologies like generative AI and deepfakes to create convincing personas and overcome language barriers. The use of advanced tools has lowered the entry barrier … Read more
In 2024, North Korean hackers, notably the Lazarus Group, orchestrated multiple cryptocurrency heists totaling $659 million. Significant incidents include a $308 million theft from Japan’s DMM Bitcoin exchange and a $235 million breach of India’s WazirX exchange. These attacks highlight the increasing sophistication of cyber threats in the crypto sector, with businesses advised to enhance … Read more
Connecticut State Police have successfully recovered approximately $180,000 for a local resident who fell victim to a cryptocurrency scam known as “pig butchering.” The scam involved fraudsters building a relationship with the victim through text messages, convincing them to invest over $225,000 into a fake platform called ‘XeggeX.’ Authorities emphasize caution against unsolicited investment advice … Read more
In response to the growing wave of blockchain hacks, leading cybersecurity firms are rolling out AI-powered threat detection systems for crypto exchanges and DeFi platforms. These advanced systems analyze blockchain transactions in real-time, identifying suspicious activity and preventing attacks before they occur. Early adopters have reported a 70% reduction in vulnerabilities since implementing these tools. … Read more
According to a recent report, North Korean hacker group Lazarus is ramping up attacks on blockchain startups and crypto exchanges in 2025. The group has stolen hundreds of millions of dollars in crypto assets through sophisticated phishing and social engineering techniques. Security experts warn that blockchain projects must remain vigilant against evolving cyber threats. Tactics … Read more
Another decentralized finance (DeFi) platform has fallen victim to hackers, with an estimated $120 million stolen in a recent attack. The exploit targeted a vulnerability in the protocol’s smart contract, allowing the attacker to drain multiple liquidity pools. Investigators believe the hacker used a flash loan to manipulate the system and cover their tracks. This … Read more