Celebrity memecoins have been the talk of the town for the past two weeks. A trend that resurged at the end of May quickly became one of the biggest narratives around the crypto community. The industry has seen controversies, rug pulls, and Vitalik Buterin’s thoughts on the celebrity token frenzy. In the phenomenon’s most recent…
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Grok (GROK) token, inspired by Elon Musk’s artificial intelligence service through X (formerly Twitter), has recently come under scrutiny following explosive growth in market capitalization. According to recent reports, Grok zoomed to a staggering $160 million market cap within just eight days of its release. However, reports of alleged scam involvement have overshadowed the token’s…
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During Q3 of 2023, there were a total of 117 hacks in which $720 million was stolen via access control breaches and rug pulls among other security incidents, a new study has found. While the losses ($49.80 million) from rug-pull incidents are significantly lower than the $449 million lost via access control and reentrancy, the…
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The mastermind behind a massive $24 million crypto fraud scheme in India has managed to evade Indian security agencies and escape from the country. The criminal, identified as Subhash Sharma, fled the nation just as authorities were closing in on him, authorities confirmed to local media. … Read More: Mastermind Behind India’s $24 Million Crypto Fraud…
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The Australian cryptocurrency exchange Swyftx has said it will offer financial rewards to users who complete its crypto education course. The crypto exchange said it expects as many as 80,000 participants and has promised a reward of just over $64 for those completing the course. Improving the Public’s Knowledge and Understanding of Cryptocurrencies An Australian…
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According to cybersecurity firm Certik, nearly $1 billion in cryptocurrency has been pilfered due to scams, rug pulls, and exploits throughout 2023. The company highlighted that the combined incidents in August alone led to a loss of $45.8 million. Certik Analysis: Cryptocurrency Losses Near $1 Billion The digital security and smart contract auditing firm Certik…
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Web 3 platforms have lost over $1.2 billion so far this year in hacks and rugs pulls, according to a report from web3 bug bounty platform Immunefi. The report revealed a total of 211 separate incidents contributing to this massive sum, with the month of August alone accounting for $23.4 million in losses. The surge…
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Over $45 million was lost to exit scams in May, while exploits on DeFi protocols racked up less than half that amount over the same period. The amount of cryptocurrency lost to “rug pull” or “exit scams” — where founders suddenly up and leave with investors’ money — had outpaced the amount stolen from decentralized…
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The month was particularly bad for exploits, with the amount lost accounting for half of the total crypto exploited so far in 2023. Crypto exploits, exit scams and flash loan attacks saw little signs of letting up in April, with more than $103 million of funds stolen from crypto projects and investors in the month. …
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Crystal Blockchain, a company that provides blockchain data and analytics, published a study covering security breaches, fraud, and scams related to cryptocurrency and decentralized finance (defi). According to the study, approximately $16.7 billion in crypto assets have been stolen since 2011. Last year, Crystal’s intelligence team documented 199 incidents resulting in the theft of $4.17…
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