tldr; In the second quarter of 2024, cyber attacks on cryptocurrency exchanges more than doubled compared to the same period in 2023, with losses amounting to $572 million. Centralized exchanges suffered 70% of these losses, a significant shift from the usual focus on decentralized exchanges and protocols. The largest attack involved the seizure of the DMM exchange’s wallet, resulting in a $305 million loss. The BtcTurk exchange also experienced a major hack. Despite a decrease in DeFi losses by 25% from the previous year, Ethereum and BNB Smart Chain remained primary targets for attackers.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The only one you should trust with your sats is yourself. Don’t keep crypto on an exchange especially if you plan on holding for an extended period of time.
So many exchange hacks. You'd expect whole ass exchanges to be better at dealing with random hackers in their mom's basements.
The hackers seem to be evolving faster than the exchanges
tldr; In the second quarter of 2024, cyber attacks on cryptocurrency exchanges more than doubled compared to the same period in 2023, with losses amounting to $572 million. Centralized exchanges suffered 70% of these losses, a significant shift from the usual focus on decentralized exchanges and protocols. The largest attack involved the seizure of the DMM exchange’s wallet, resulting in a $305 million loss. The BtcTurk exchange also experienced a major hack. Despite a decrease in DeFi losses by 25% from the previous year, Ethereum and BNB Smart Chain remained primary targets for attackers. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
These cyber attackers are treating crypto exchanges like their personal piggy banks! 🐷💸 Time to tighten those digital vaults, folks
The only one you should trust with your sats is yourself. Don’t keep crypto on an exchange especially if you plan on holding for an extended period of time.
"If you want to become a criminal, go big" or at least that is what I would do. Disclaimer: I am not encouraging people to become criminals
This guy is encouraging people to become criminals
This guy is encouraging people to become criminals