Crypto pig butchering scams worn out $3.6 billion in 2024: report – CoinJournal

Crypto pig butchering scams worn out .6 billion in 2024: report – CoinJournal

  • Crypto scams round pig butchering noticed crypto customers lose over $3.6 billion in 2024.
  • This displays a 40% surge previously 12 months.

Pig butchering scams hit highest in 2024 to crypto customers,in line with a report issued by Cyvers. The web3 safety firm stated that fraud schemes price crypto customers $3.6 billion on the Ethereum blockchain.

Based on the report, there was a rise of cyber fraud by 40% larger than the earlier 12 months. There have been 165 incidents with a file loss totalling $2.3 billion.

The scammers operated on Ethereum blockchain.

As per Cyvers, a file of 150,000 addresses and 800,000 fraud instances was famous. The principle of the blockchain’s loopholes was its ease of entry.

Scammers made funds totalling to over 100,000 in small bits to their victims. Entry management breaches accounted for 67 incidents valued at $1.9 billion. Fraudsters additionally used sensible contract vulnerabilities  with 98 incidents price $456.8 million.

Crypto customers’ losses to scammers had been on the rise in 2024. Among the many exchanges scammed embody DMM change ,WazirX. Fraudsters scammed WazirX $235 million whereas DMM change misplaced $305 million. Cyber attackers accessed DMM change and compromised a non-public key within the platform’s Bitcoin sizzling pockets.

BingX misplaced $52 million to fraudsters when scammers accessed the change’s sizzling pockets and did funds switch by totally different addresses.

Regardless of the safety hitches, restoration makes an attempt had been made making certain victims obtained a part of their funds. About $1.3 billion was recovered and returned to holders in 2024.

With 53 instances reported in 2024 Q1 ,Q3 recorded a lack of about $760 million which was the best quantity misplaced in 2024. The final quarter had the least variety of instances and losses

Supply hyperlink

author avatar
Crypto Dunia
bitcoin
Bitcoin (BTC) $ 116,590.24 4.86%
ethereum
Ethereum (ETH) $ 2,956.70 6.47%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.56 5.51%
bnb
BNB (BNB) $ 688.16 2.40%
solana
Solana (SOL) $ 164.29 4.26%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.197832 9.57%
tron
TRON (TRX) $ 0.294601 0.91%
staked-ether
Lido Staked Ether (STETH) $ 2,955.97 6.41%
cardano
Cardano (ADA) $ 0.684233 10.02%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 116,524.22 4.95%
hyperliquid
Hyperliquid (HYPE) $ 44.53 7.03%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,571.67 6.65%
sui
Sui (SUI) $ 3.48 11.22%
chainlink
Chainlink (LINK) $ 15.33 7.10%
bitcoin-cash
Bitcoin Cash (BCH) $ 519.30 1.47%
stellar
Stellar (XLM) $ 0.303053 5.14%
avalanche-2
Avalanche (AVAX) $ 20.84 6.94%
leo-token
LEO Token (LEO) $ 9.02 0.23%
hedera-hashgraph
Hedera (HBAR) $ 0.195138 11.83%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,168.39 6.55%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 8.00%
weth
WETH (WETH) $ 2,956.58 6.37%
usds
USDS (USDS) $ 1.00 0.01%
the-open-network
Toncoin (TON) $ 2.97 3.57%
litecoin
Litecoin (LTC) $ 95.20 4.90%
whitebit
WhiteBIT Coin (WBT) $ 46.74 0.15%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.14%
monero
Monero (XMR) $ 327.28 0.01%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 116,623.25 4.98%
polkadot
Polkadot (DOT) $ 3.92 7.74%
bitget-token
Bitget Token (BGB) $ 4.58 3.07%
pepe
Pepe (PEPE) $ 0.000013 14.55%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.08%
uniswap
Uniswap (UNI) $ 8.37 1.88%
aave
Aave (AAVE) $ 305.07 2.29%
pi-network
Pi Network (PI) $ 0.513816 8.83%
dai
Dai (DAI) $ 1.00 0.01%
bittensor
Bittensor (TAO) $ 378.57 8.40%
aptos
Aptos (APT) $ 4.91 7.10%
near
NEAR Protocol (NEAR) $ 2.54 8.00%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18 0.04%
crypto-com-chain
Cronos (CRO) $ 0.09771 2.36%
okb
OKB (OKB) $ 49.33 1.51%
internet-computer
Internet Computer (ICP) $ 5.46 5.91%
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 199.61 4.31%
ondo-finance
Ondo (ONDO) $ 0.900741 6.87%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
ethereum-classic
Ethereum Classic (ETC) $ 18.47 4.68%
susds
sUSDS (SUSDS) $ 1.06 0.01%
kaspa
Kaspa (KAS) $ 0.086326 6.17%
usd1-wlfi
USD1 (USD1) $ 1.00 0.09%
mantle
Mantle (MNT) $ 0.635689 5.85%
cosmos
Cosmos Hub (ATOM) $ 4.64 7.32%
vechain
VeChain (VET) $ 0.024506 9.23%
ethena
Ethena (ENA) $ 0.326728 13.08%
arbitrum
Arbitrum (ARB) $ 0.415563 16.05%
official-trump
Official Trump (TRUMP) $ 10.03 8.98%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.222321 6.79%
gatechain-token
Gate (GT) $ 16.22 1.16%
render-token
Render (RENDER) $ 3.74 10.18%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.742616 5.91%
fasttoken
Fasttoken (FTN) $ 4.46 0.17%
algorand
Algorand (ALGO) $ 0.220709 14.52%
worldcoin-wld
Worldcoin (WLD) $ 1.09 18.48%
bonk
Bonk (BONK) $ 0.000024 7.76%
sei-network
Sei (SEI) $ 0.322933 21.86%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,956.99 6.64%
sky
Sky (SKY) $ 0.083983 2.54%
filecoin
Filecoin (FIL) $ 2.61 6.94%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 116,408.19 5.15%
jupiter-perpetuals-liquidity-provider-token
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.74 2.68%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 174.46 4.56%
spx6900
SPX6900 (SPX) $ 1.62 7.44%
jupiter-exchange-solana
Jupiter (JUP) $ 0.492054 7.02%
usdtb
USDtb (USDTB) $ 1.00 0.02%
kucoin-shares
KuCoin (KCS) $ 11.37 2.07%
first-digital-usd
First Digital USD (FDUSD) $ 0.996849 0.25%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 3,100.09 6.53%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,369.23 6.52%
usdt0
USDT0 (USDT0) $ 0.999755 0.10%
pudgy-penguins
Pudgy Penguins (PENGU) $ 0.021322 23.45%
celestia
Celestia (TIA) $ 1.89 12.44%
fartcoin
Fartcoin (FARTCOIN) $ 1.32 16.03%
nexo
NEXO (NEXO) $ 1.27 2.85%
injective-protocol
Injective (INJ) $ 12.46 12.63%
xdce-crowd-sale
XDC Network (XDC) $ 0.073328 7.25%
optimism
Optimism (OP) $ 0.676984 14.59%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 1.79 12.28%
flare-networks
Flare (FLR) $ 0.016775 2.65%
blockstack
Stacks (STX) $ 0.747324 7.34%
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,159.40 6.28%
stakewise-v3-oseth
StakeWise Staked ETH (OSETH) $ 3,106.35 6.49%
sonic-3
Sonic (S) $ 0.344976 8.24%
solv-btc
Solv Protocol BTC (SOLVBTC) $ 116,404.19 4.96%
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00 0.00%
dogwifcoin
dogwifhat (WIF) $ 1.04 8.08%
story-2
Story (IP) $ 3.50 11.13%
floki
FLOKI (FLOKI) $ 0.000104 10.38%
Scroll to Top