Solana, hailed as the top blockchain of 2024, is facing both accolades and scrutiny as it grapples with significant highs and alarming lows. Despite impressive wins, the ecosystem gets stuck with challenges and recurrent scrutiny, drawing praise and criticism alike. Additionally, with Solana’s remarkable trading volume exceeding $2 billion in
Crypto analytics platform Nansen is grappling with a wave of phishing scams targeting its users. Numerous individuals have reported receiving fraudulent emails promoting an attractive “Nansen Airdrop,” allegedly offering an exclusive opportunity for participation. However, CEO Alex Svanevik took to X (formally Twitter) and “warned users” that there is “no
While crypto enthusiasts are currently rejoicing in the market’s upward momentum, there are still individuals who haven’t moved on from the challenges of Q3 2023. The quarters of July, August, and September of 2023 marked a bear-driven phase with staggering losses across the Web3 ecosystem. In total, $685,510,444 was lost
September 2023 has seen a series of high-profile cryptocurrency hacks, with the Lazarus Group, a North Korean hacking collective, emerging as a key player in siphoning off millions of dollars in digital assets. These incidents have sent shockwaves through the crypto community, leaving investors and enthusiasts grappling with the aftermath.
The FBI has published a PSA alerting consumers against non-fungible token (NFT) scams in which fraudsters pretend to be the creators of well-known projects. It was noted that the criminals hijack the accounts of NFT developers and undergo digital theft activities by draining the victim’s wallet. Also, an alert number
According to reports, numerous prominent Crypto Twitter users have already issued warnings regarding the presence of imposter accounts on Meta’s new microblogging app, Threads. Threads, which introduced on July 5, has witnessed a surge in registrations, with the number of sign-ups exceeding 98 million in the days that followed. Nevertheless,
Multiple Twitter accounts belonging to key figures in the cryptocurrency industry have fallen victim to a group of scammers. By leveraging the compromised accounts, these scammers have propagated phishing scams, resulting in the theft of approximately $1 million in crypto funds. Over the past few weeks we have seen 8+
According to Scam Sniffer, a Web3 scam detection firm, there are reports of a recently surfaced scam as a service named “Inferno Drainer” that has allegedly managed to abscond with approximately $6 million from unsuspecting cryptocurrency users. Inferno Drainer purportedly offers pre-made code to scammers, enabling them to pilfer cryptocurrencies,
To prevent fraud, the United Kingdom is planning to outlaw cold calling for financial items, such as insurance and cryptocurrencies. According to the National Crime Agency, fraud costs the nation approximately £7 billion ($8.7 billion) yearly. The UK offered 400 new jobs as a component of its new fraud strategy
Cryptocurrencies are regularly targeted by scammers and hackers due to their rising popularity. For instance, $3.5 billion in cryptocurrency was stolen in 2022 alone. That number could be way higher because not everyone reported they were victims of scammers. But does this mean you should stop being interested in cryptocurrency?
