Ensure the Safety of Your Digital Assets Examination of Crypto Thefts and Scams in Q2 2024
The number of cryptocurrency hacks involving blockchain technology has been increasing as new advancements are made. In the second quarter of 2024, the MistTrack.io team from SlowMist.io reported a total of 467 cases of stolen funds, with 146 cases being international and 321 cases being domestic. Fortunately, they were able to assist 18 victims in recovering approximately $20.66 million across 13 different platforms.
One of the primary causes of these thefts is the leakage of private keys. Many users have the habit of storing their private keys in insecure and unknown cloud services or sharing them easily through messaging apps like WeChat. This vulnerability allows hackers to launch credential-stuffing attacks and gain access to these keys. Additionally, imitation wallets also pose a significant risk.
Phishing attacks are another common occurrence in crypto thefts. Hackers create fake Twitter accounts and post malicious links under popular tweets. Bots ensure that these phishing links appear as the first comments, tricking users into compromising their security.
Fraudulent schemes also play a role in cryptocurrency thefts. Employment scams promise target tokens that will increase significantly in value, luring victims into investing. However, once these tokens are purchased, they cannot be sold, trapping the victims and causing financial losses.
To prevent cryptocurrency theft, there are several practical tips that can be widely adopted. First and foremost, secure storage is crucial. Private keys should be stored on hardware wallets or encrypted storage media. It is advised not to use cloud services or messenger apps for storing or exchanging keys.
Cautious clicking is also essential. Users should avoid clicking on links, especially those posted by unknown individuals in comment sections or message boxes. It is important to verify the authenticity of links from official channels to avoid falling victim to fake links.
When dealing with tokens, it is important to verify their legitimacy and ensure they have not been duplicated. Basic tools can be used to screen for potential scams or duplicity, and credible sources like MistTrack or GoPlus’s Token Security Detection can be consulted.
Increasing awareness and education about phishing and related scams is crucial. Organizations should educate their workforce on how to identify scams and avoid falling for them.
In the unfortunate event of becoming a victim of theft or scams, it is important to contact market administrators immediately. Taking prompt action increases the chances of recovering the stolen funds.
Overall, the cryptocurrency industry is fighting back against hackers, and the losses due to hacks have decreased by 54% in June.