The post Analysis of Q2 2024 Crypto Thefts and Scams appeared on BitcoinEthereumNews.com.

The cases of blockchain crypto hacks have been on the rise as new developments are implemented. The MistTrack.io team from SlowMist.io reported 467 stolen fund cases in Q2 2024, with 146 international and 321 domestic incidents. They managed to assist 18 victims in regaining about $20.66 million across 13 platforms. Primary causes of theft 1. Private key leaks It is common practice for many users to place private keys within an insecure and unknown cloud service or use WeChat to share their private keys easily. This vulnerability is the basis of hackers launching credential-stuffing attacks to gain access to these keys. Also, imitation wallets are equally a vulnerable issue. 2. Phishing Phishing cases are also a regular occurrence, and hackers open new fake Twitter accounts to post the given links under existing and popular tweets. Bots guarantee that these phishing links are posted as the first comments, which leads users to compromise of their security. 3. Fraud Employment scams offer target tokens that will increase with a large value, hence the use of honeypot schemes. After they have been bought, these tokens cannot be sold further which in effect traps the victims.  Prevention Tips Mentioned below are a few practical tips which can be adopted widely to avoid your crypto being stolen. Secure Storage: Secure private keys by storing them on hardware wallets or by encrypting the storage media. Do not use cloud services and messenger services for storing or exchanging keys. Cautious Clicking: Do not click on links especially those that are posted by people in the comment section or in the message box. Sometimes links can be fake; therefore, the authenticity of links should be checked from official channels. Token verification: When approaching tokens always ensure that they are genuine and have not been duplicated. To avoid any…

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Filed under: News - @ July 4, 2024 7:12 am