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Hackers managed to steal $2 billion in crypto in 2023, but for the first time since 2020, the trend is showing a decline. Throughout 2023, scammers and hackers executed numerous cyberattacks and rug pulls, resulting in the theft of approximately $2 billion worth of cryptocurrency, as reported by De.Fi, a web3 firm. A spokesperson for De.Fi, in a conversation with TechCrunch, emphasized that the figure highlights the “persistent vulnerabilities and challenges within the DeFi ecosystem.” You might also like: Major crypto hacks of 2023: how industry lost over $1b within minutes De.Fi’s REKT database documented at least 455 incidents in 2023, with the largest hack amounting to $231 million, attributed to Multichain. Despite the alarming $2 billion total, the efforts of cybersecurity experts and white hat hackers led to the recovery of approximately $200 million from the overall sum, De.Fi’s data shows. Funds lost by blockchain | Source: De.Fi Et...

Unusually large withdrawals were made from Stake to an account with no previous activity, including $3.9 million in Tether and $9.8 million in Ether. Crypto gambling site Stake has experienced $16 million in withdrawals on Sept. 4 in what security platform Cyvers Alerts is calling “suspicious transactions.” The withdrawing account has been labeled “Stake.com Hacker” by Etherscan, implying that the drained funds may be the result of a stolen private key. ALERTOur AI-powered system has detected multiple suspicious transactions with @Stake.https://t.co/0ZoMITOyF5 address received about $16M in $ETH $USDC $USDT and $DAI All the stable coins are converted to $ETH and distributed to different EOAs. FYI: @tayvano_ @zachxbt pic.twitter.com/CSGwRHEiVm — Cyvers Alerts (@CyversAlerts) September 4, 2023 Blockchain data shows very large withdrawals from Stake.com contracts into the alleged attacker’s account. The first transaction occurred at 12:48 p.m., transferring approximately $3.9 ...

Chainalysis told Cointelegraph that they were “describing it as a possible rug pull,” based on an analysis of Multichain’s spurious transactions and internal problems. The multi-million dollar exploit of cross-chain bridge protocol Multichain could have been an internal rug pull, according to blockchain security and analytics firm Chainalysis. “On July 6, 2023, cross-chain bridge protocol Multichain experienced unusually large, unauthorized withdrawals in what appears to be a hack or rug pull by insiders,” the firm wrote in a July 10 blog post. The exploit has so far resulted in the loss of more than $125 million. On July 6, @MultichainOrg experienced unusually large, unauthorized withdrawals , resulting in losses of more than $125M. It’s one of the biggest #crypto hacks on record. Read on to learn what we know so far: https://t.co/ib2K6sIrID pic.twitter.com/BBY3iU75oB — Chainalysis (@chainalysis) July 10, 2023 However, Chainalysis believes the exploit may have been the resul...

The investigator claimed to be targeted as a suspect because they maintained a crypto security repo on GitHub. The pseudonymous Twitter user and Blockchain investigator Officer’s Notes believes they may have been a suspect in the $195 million Euler Finance hack. In an April 4 Twitter thread, the Security researcher stated, “Seems like I was a suspect in this case, as usual.” The Euler team has denied that Officer's Notes was a suspect , claiming instead that the researcher was helpful in the investigation. they urgently woke me up in the middle of the night and been asking for help when the attack happened… we even had a google meet call lmao WTF Euler was this just to get my GitHub access data logs from my OpSec repo (which I did lol)… Seems like I was a suspect in this… — Officer's Notes (@officer_cia) April 5, 2023 Officer’s Notes, also known as Officer_cia, is a security researcher, blogger, and auditor for blockchain security firm Pessimistic, according to the user...

A public burn() function introduced in the latest upgrade allegedly allows users to burn tokens from other addresses. SafeMoon, a project previously endorsed by A-list celebrities and social influencers such as Jake Paul and Soulja Boy, announced its liquidity pool (LP) was compromised. Without revealing further details about the attack, SafeMoon confirmed undertaking steps “to resolve the issue as soon as possible.” Just like many other crypto projects in 2021, SafeMoon was backed by numerous celebrities. However, a lawsuit from Feb. 2022 alleged that musicians such as Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips mimicked real-life Ponzi schemes by misleading investors to purchase SafeMoon (SFM) tokens under the pretext of unrealistic profits. Jake Paul promoting SafeMoon token in 2021. Source: Twitter Investigating the SafeMoon hack shows that the attacker made away with approximately 27,000 BNB (BNB), worth $8.9 million. SafeMoon has not yet respon...

The hacker accumulated as much as $90 million worth of crypto during a six-year thieving spree. A hacker dubbed the “ Blockchain Bandit” has finally woken from a six-year slumber and has started to move their ill-gotten gains. According to Chainalysis, around $90 million in crypto pilfered from the attacker’s long-running string of “programmatic theft” since 2016 has started moving over the past week. This included 51,000 Ether (ETH) and 470 Bitcoin (BTC), worth around $90 million leaving the Bandit’s address for a new one, with Chainalysis noting: “We suspect that the bandit is moving their funds given the recent jump in prices." The hacker was dubbed the “ Blockchain Bandit” due to being able to empty Ethereum wallets protected with weak private keys in a process termed “Ethercombing.” The attacker’s “programmatic theft” process has drained more than 10,000 wallets from individuals across the globe since the first attacks were perpetrated six years ago. 1/ $90M stolen funds o...