Hack

On August 22, 2022, an unknown hacker tried to break the NEAR/ETH Rainbow Bridge. However, the hack was blocked, protecting users' money. It also cost the criminal around 5 ETH (~$8,000).

Cross-chain bridge transactions are considered to be the weakest point of blockchain. This flow cost users about $2 billion in the first half of 2022.

Hackers from North Korea are plagiarising information from legitimate resumes on various hiring platforms such as LinkedIn. They use the stolen data to apply for jobs at cryptocurrency companies in North America and Europe.

One of the most fascinating aspects of Bitcoin (BTC) is the cryptocurrency’s volatile price history. The chart makes for interesting viewing and often leads us to question how and why certain things have happened. When we consider the roughly five or six peaks in its history, we can usually tie them to specific events or trends.

On July 17, the popular NFT platform Premint was hacked, resulting in the loss of over 300 NFTs with a total value of $400,000.

Black Hat hackers are actively exploiting the cryptocurrency industry and its vulnerabilities. In the second quarter of 2022, the total loss of crypto projects due to hacks and fraud amounted to $670,698,280.

Beginners in the cryptocurrency industry are often afraid of the risks associated with it. Besides price volatility, the users often face the danger of their wallets being hacked, causing irreparable losses.

Numerous YouTube accounts were hacked on January 23. Anonymous scammers used them to stream a video about a fake giveaway designed to trick users into giving away money.

With the huge increase in cryptocurrency adoption by non-experts in 2021, the number of scammers is also on the rise. Fraudsters have started using the SIM-swap method to gain access to users' personal information such as emails, bank accounts, and even their digital assets.