Blockchain
Crypto Hackers Have Stolen $19 Billion+ Since 2011: Reports
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
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
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
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
The post Crypto Hackers Have Stolen $19 Billion+ Since 2011: Reports appeared first on HIPTHER Alerts.
Finfare Connect, a market-leading rewards platform empowering businesses to engage and retain customers through personalized offers, has announced an innovative collaboration with ZBD, a leading payments company at the forefront of digital economies.
Finfare Connect is a part of Finfare Inc., a thriving fintech company with offices in Irvine, California and London.
Through this strategic alliance, Finfare will provide ZBD users with access to affiliate, card-linked, and instant cashback offers, enabling them to earn Bitcoin through everyday purchases, above and beyond those already earned via the ZBD app.
Beginning today, ZBD users will have the option to link their payment card or multiple payment accounts to start automatically earning rewards while shopping online or at in-person stores. Card linking involves connecting a single payment card, while account linking occurs when a user connects multiple bank accounts to earn highly customized rewards.
In terms of rewards, ZBD users who sign up for the program will have access to offers from thousands of well-known brands such as Nike, Adidas, Asics, Crocs, Tommy Hilfiger, Urban Outfitters, Cole Haan, Steve Madden; and popular retailers such as Nordstrom, Brookstone and Best Buy, among many others.
ZBD’s innovative app immerses users in a world of games and apps, allowing them to earn Bitcoin while enjoying diverse entertainment experiences.
Now, US-based ZBD users will be able to seamlessly earn Bitcoin through their everyday purchases simply by linking their payment accounts via the ZBD app. Then, they will automatically earn Bitcoin whenever they purchase an item that’s promoted by FinFare.
“We are thrilled to launch this exciting offering with ZBD,” said Alan Zrado, Executive Vice President, Finfare Connect. “Through this alliance, we are enhancing the way ZBD users engage with digital payments, offering them unparalleled opportunities to earn Bitcoin through their everyday transactions. This partnership also underscores our commitment to empowering businesses by providing their customers with compelling, customized, and valued rewards.”
“We are excited to join forces with Finfare Connect to give ZBD users greater value by giving them more ways to easily earn Bitcoin rewards,” said Ben Cousens, Chief Strategy Officer of ZBD. “By combining Finfare Connect’s expertise in personalized offers with ZBD’s cutting-edge payments technology, we are providing our users with a great way to earn Bitcoin by shopping as they normally would anyway.”
The post ZBD and Finfare partner to offer gamers cash rewards for their everyday purchases! appeared first on HIPTHER Alerts.
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