Search Results for: TRM Labs

“TRM Labs reported that North Korean hackers have stolen over $2 billion in cryptocurrencies in the past five years. The criminals focused on the fast-growing DeFi sector, using techniques such as supply chain attacks, phishing, and infrastructure hacks. Interestingly, despite a broad decrease in crypto thefts in 2023, North Korea’s crypto crimes persisted.”

“North Korean cybercriminals have reportedly stolen an estimated $2 billion in cryptocurrency over the past five years, according to TRM Labs. Their targets increasingly include the decentralized finance (DeFi) ecosystem. The hackers use advanced attack methodologies and complex money laundering techniques, posing a significant threat to the crypto security landscape.”

“Affiliate groups of ISIS are increasingly utilizing cryptocurrency, specifically Tether stablecoins on the Tron network, suggests a report by TRM Labs. Regions such as Tajikistan, Indonesia, Pakistan, and Afghanistan are particularly active. This misuse of digital currencies underscores the importance of tracing blockchain donations and identifying donors to thwart pro-ISIS networks.”

“Terrorist factions, including ISIS, are increasingly using cryptocurrencies to raise funds, as per a report by blockchain analytics firm TRM Labs. Efforts, however, are being made to trace these transactions, leading to identification and arrest of fundraisers. The traceability of digital currencies, though, raises issues about donor safety.”

Bitcoin’s involvement in crypto crimes has dropped to just 19% in 2022 from 97% in 2016, according to a report by blockchain intelligence firm TRM Labs. This decline highlights the rise in the misuse of other blockchain platforms like Ethereum, Tron, and BNB Chain by cybercriminals, indicating an emergent multi-chain era. The study also revealed inventive tactics employed by criminals, such as “chain-hopping” to avoid detection.

The cryptocurrency market saw a 70% reduction in attacks on token protocols and crypto projects in Q1 2023, compared to the same period in 2022, according to a TRM Labs report. However, the industry should remain vigilant against large-scale attacks and maintain proactive security measures amidst fluctuating hack statistics.

The first quarter of 2023 saw a 70% drop in money stolen from crypto projects, with contributing factors including crackdown on hackers, legal sanctions, and anti-money laundering standards. However, TRM Labs analysts warn of a potential “rebound” in crypto hacks as the year unfolds, emphasizing the need for continued security efforts and regulatory measures.

Crypto hacker exploits have declined by 70% in Q1 2023, with hackers increasingly returning stolen funds for “white hat” rewards, says a TRM Labs report. Increased regulatory attention, robust KYC/AML policies, and successful enforcement cases are contributing factors to this shift.

Q1 2023 saw a significant decline in crypto hacks with a 65% drop in average hack size. However, TRM Labs warns against complacency, as historical data suggests temporary reprieves don’t guarantee permanent trends. Continuous vigilance in security is necessary to maintain this positive development.

“The digital fortress of cryptocurrencies faces a possible breach by notorious North Korean hacker groups, Lazarus and APT38, suspected of planning to liquidate over $40 million in stolen BTC. North Korea’s increased cyber involvement, amassing $2 billion in crypto loot over five years, raises concerns about the security of the cryptocurrency framework and necessitates vigilance from crypto firms and individual investors.”

The FBI has put six Bitcoin wallets, affiliated with North Korea’s Lazarus Group, on its radar, highlighting their potential possession of around $40 million. The Group’s success in crypto exploits is counterbalanced by blockchain’s public-ledger technology which makes laundering assets increasingly difficult due to traceable and freezeable transactions.

Hacker “Pink Drainer” has reportedly stolen over $3 million from nearly 2000 victims using social engineering tactics and fake journalist personas. Despite a decrease in overall hacking incidents, it’s crucial for individuals to evaluate security measures and exercise caution in the crypto space.

New York-based Evertas expanded its cryptocurrency insurance coverage from $5 million to $420 million for crypto custodians and exchanges, following authorization from Arch Insurance International. This significant increase offers improved risk management and addresses safety concerns in the industry, potentially driving wider adoption of cryptocurrency.

Users of Atomic Wallet reported crypto asset losses and complete disappearance of portfolios. Atomic’s team is investigating the issue. This highlights risks associated with blockchain technology, emphasizing the importance of ensuring safety, security, and educating oneself on secure practices.

The hacking of an older version of Yearn Finance saw the exploiter mint over 1 quadrillion Yearn Tether, resulting in $11.6 million in stolen stablecoins. Despite crypto mixer Tornado Cash sanctions, the hacker laundered nearly $9.3m worth of loot, raising concerns about the long-term effectiveness of such sanctions and the need for evolving security measures in the crypto community.