Phishing Scammers Stole $47 Million From 57,000 Victims in February Alone — Report

Nearly $47 million was stolen from approximately 57,000 crypto users by criminals who use phishing scams to lure victims. The Scam Sniffer data highlights that most of the thefts occurred on the Ethereum chain, with ERC-20 tokens being the most targeted. Unlike in January, the number of victims who lost digital funds exceeding $1 million […]

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Transak Achieves Industry-First SOC 2 Type 2 Compliance in Crypto Sector

In a landmark achievement for the cryptocurrency sector, Transak has become the first global on/off-ramp service to secure SOC 2 Type 2 compliance. The firm explained to Bitcoin.com News that the accomplishment underscores the company’s commitment to data security and customer trust, paving the way for broader Web3 industry collaborations with heavily-regulated companies worldwide. Transak […]

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Peckshield: Cryptocurrency Hackers Stole Over $360 Million in February

Peckshield: Cryptocurrency Hackers Stole Over $360 Million in FebruaryCryptocurrency hackers stole over $360 million during February, almost doubling the amount stolen in January. According to Peckshield, a cryptocurrency and blockchain security firm, the largest hack event in February involved a security breach in Playdapp, a Web3 gaming platform, that lost $290 million four days after being attacked. Fixedfloat, a cryptocurrency exchange, also lost […]

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Crypto Exchange Bitforex Suspends Withdrawals Following $56.5M Drain From Hot Wallets

Crypto Exchange Bitforex Suspends Withdrawals Following $56.5M Drain From Hot WalletsBitforex, a centralized cryptocurrency exchange, abruptly halted user withdrawals. This sudden action occurred just moments after a reported $56.5 million was removed from the platform’s hot wallets. According to online crypto investigator Zachxbt, the Bitforex team has ceased all communication with users. No Official Word From the Bitforex Team On Feb. 23, Bitforex, a cryptocurrency […]

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Telefonica Partners Chainlink to Mitigate SIM Swap Attacks in Web3

Telefonica Partners Chainlink to Mitigate SIM Swap Attacks in Web3Telefonica, one of the world’s largest telecom companies, has partnered with Chainlink, a decentralized oracle provider, to improve security in Web3 environments. Through the use of Chainlink functions and Telefonica’s SIM Swap API implementation, Polygon apps would be able to check if the SIM of a mobile phone has changed in a given period. Telefonica […]

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Nexo Partners With Sift for Enhanced Digital Asset Fraud Protection

Nexo Partners With Sift for Enhanced Digital Asset Fraud ProtectionThe digital asset firm Nexo has announced its partnership with Sift, aiming to upgrade its fraud prevention mechanisms. The collaboration between the duo is expected to streamline and secure the user experience for Nexo’s customer base, which exceeds six million globally. Nexo to Leverage Sift’s Fraud Protection Services By integrating Sift‘s payment protection and account […]

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January Sees Significant Losses In Exploits: $41 Million Reported

The cryptocurrency world faced a tumultuous January, marked by significant losses totaling $41 million due to various exploits and security breaches. While this figure represents a staggering 67% decline from December 2023, it marks a stark increase of 180% compared to January 2023. One of the most notable incidents occurred when 600 million GMEE tokens, valued at $16.3 million, were stolen during the GAMEE token breach on the Polygon network. Additionally, a phishing scheme targeted users of Ethereum and Binance Smart Chain, resulting in losses amounting to $12.9 million. $41M LOST IN EXPLOITS IN JANUARY This marks a 180% increase

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Ethereum Co-Founder Vitalik Buterin on Tackling Deepfake AI Risks: ‘Ask Security Questions’

Ethereum Co-Founder Vitalik Buterin on Tackling the Deepfake Issue: 'Ask Security Questions'Vitalik Buterin, a co-founder of the cryptocurrency project Ethereum, has raised an alert on using deepfakes, videos created using artificial intelligence (AI) to try to impersonate human beings, to persuade others about making financial transactions. For Buterin, the issue is not only cryptographical and can be tackled using security questions with friends and colleagues. Ethereum […]

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Playdapp Breach: Hacker Mints Tokens Worth $31 Million, Gaming Platform Offers Reward for Silence

Playdapp, a Web3 gaming platform, recently confirmed that it was a victim of a hacking incident which saw criminals mint tokens worth approximately $31 million. Playdapp said it has offered to reward the hackers if they agree to return the stolen assets and contracts. Crypto Exchanges Urged to Block Compromised PLA Tokens Playdapp, a Web3 […]

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Telcoin Faces Significant Setback Following Security Breach

Telcoin ($TEL) has encountered a considerable setback, witnessing a substantial drop of over 41% within a few hours due to a significant security breach on the Telcoin cryptocurrency platform. This breach led to the apparent theft of millions of TEL tokens, amounting to around $1.3 million in cryptocurrency losses, as reported by peckshieldalert. #PeckShieldAlert Telcoin $TEL has dropped -41%Telcoin has suffered an exploit, resulting in a loss of ~$1.3M worth of cryptos https://t.co/FS756GaeWo pic.twitter.com/LDPZVu05Fv — PeckShieldAlert (@PeckShieldAlert) December 26, 2023 In response to the security compromise, the Telcoin team swiftly addressed the situation involving the Telcoin App. Taking immediate action,

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