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Crypto Hackers Have Stolen $19 Billion+ Since 2011: Reports

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Is Your Crypto Really Safe? Think Again.

Hackers have been targeting cryptocurrencies and digital assets relentlessly, stealing millions since 2011, according to data from Crystal Intelligence.

Yes, you read that right! Crystal Intelligence, a Dublin-based crypto compliance firm, reports around 785 instances of various crypto hacks and exploits, resulting in $19 billion worth of digital coins being stolen over the past 13 years. This significant loss highlights the persistent risks in the crypto market.

Notorious Hacks in Crypto History

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Among the numerous security breaches, some stand out for their magnitude. The Plus Token scam in May 2019 remains the largest single crypto theft, with attackers seizing $2.9 billion in Bitcoin and Ethereum.

Earlier this year, the largest cyber attack on PlayDapp in February 2024 cost $290 million, making it the second-biggest crypto hack in the last two years.

The JPEX Investment Scam

Fraud has also caused significant damage in the crypto space. The JPEX investment scam in Hong Kong resulted in the theft of $194.3 million worth of crypto, marking it as the largest single crypto fraud scheme in the last two years.

2022: A Record-Breaking Year for Crypto Losses

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The report indicates that 2022 was the worst year by value, with 199 exploits resulting in over $4.2 billion in stolen digital assets, a figure significantly higher than the losses recorded in 2023.

Despite advancements in monitoring and reporting mechanisms, illicit activities on the blockchain have continued to grow in 2023 and 2024.

DeFi Under Siege

DeFi platforms, particularly those in decentralized finance ecosystems, have been severely impacted. In 2023, there were 112 DeFi hacks, with hackers stealing $835 million worth of cryptocurrencies. Security breaches have been even more costly, with 68 individual cases resulting in the theft of over $1 billion in digital assets.

Euler Finance Deserves a Mention

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Among the targeted DeFi protocols in 2023 and 2024, the largest hack involved Euler Finance, where hackers stole $197 million worth of Ether tokens. The ten largest DeFi hacks during these years amounted to a total of $579 million in digital currency.

An Ongoing Battle Against Crypto Crime

In the first quarter of 2024 alone, $542.7 million worth of digital assets were stolen, an increase from the previous year. This trend suggests the potential for even more crypto hacks in the coming year.

Crypto-criminals remain active and threatening. According to the report from Crystal Intelligence, the fight against cybercrime is far from over. As decentralized financial markets continue to grow, the frequency and intensity of attacks also rise, underscoring the urgent need for better security protocols and proactive threat detection in the crypto market.

Source: coinpedia.com

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India Electronic Contract Services Market to Worth Over US$ 624.33 Million By 2033 | eSignature Demand Among Financial Institutes to Remain High Says Astute Analytica

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UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System

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The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.

Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.

“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”

ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.

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“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”

The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.

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Bybit Supports Wildlife Conservation Through Sea Turtle Adoption Initiative with Subsum

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