{"id":336700,"date":"2024-07-03T18:23:39","date_gmt":"2024-07-03T12:53:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/ethereum-bitcoin-xrp-lead-1-5b-crypto-scam-losses-crypto-news\/"},"modified":"2024-07-03T18:29:10","modified_gmt":"2024-07-03T12:59:10","slug":"ethereum-bitcoin-xrp-lead-1-5b-crypto-scam-losses-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-bitcoin-xrp-lead-1-5b-crypto-scam-losses-crypto-news\/","title":{"rendered":"Ethereum, Bitcoin &#038; XRP Lead $1.5B Crypto Scam Losses &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The first half of 2024 has been marked by a surge in major hacks within the cryptocurrency space. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/british-crypto-exchange-lykke-halts-amid-22m-suspected-hack\/\">Ethereum (ETH)<\/a>, Bitcoin (BTC), and XRP have led the crypto scam losses amounting more than $1.5 billion. This year, over 200 significant incidents have resulted in approximately $1.56 billion in losses.<\/p>\n<h2>Crypto Scam Losses Hit $1.5B<\/h2>\n<p>According to Peck Shield Alert data, only $319 million of lost crypto funds have been recovered. Moreover, the losses this year represent a staggering 293% increase compared to the same period in 2023, where losses amounted to $480 million.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<figure id=\"attachment_205725\" aria-describedby=\"caption-attachment-205725\" style=\"width: 1920px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-205725\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217.jpg\" alt=\"\" width=\"1920\" height=\"1080\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217.jpg 1920w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217-300x169.jpg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217-1224x689.jpg 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217-768x432.jpg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217-1536x864.jpg 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217-678x381.jpg 678w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/07\/20240703_181217-150x84.jpg 150w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\"\/><\/noscript><figcaption id=\"caption-attachment-205725\" class=\"wp-caption-text\">Overview of crypto scams in 2024, Source: PeckShieldAlert | X<\/figcaption><\/figure>\n<p>Furthermore, DeFi protocols have been the primary targets for hackers. They account for 59% of the total stolen value. Over 20 public chains experienced major hacks during this period. Moreover, Ethereum, Bitcoin, and XRP topped the list for the amount lost via crypto hacks.<\/p>\n<p>In addition, Ethereum and BNB Chain were the most frequently targeted, each accounting for 31.3% of the total hacks. Meanwhile, Arbitrum followed with 12.5% of the attacks. One of the most significant incidents occurred on June 3, 2024.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-news-hacker-moves-30m-btc-another-market-dump-incoming\/\">DMM Bitcoin<\/a>, a major Japanese cryptocurrency exchange, reported a substantial breach. The attackers stole 4,502.9 BTC, worth over $300 million at the time. This incident highlighted vulnerabilities within exchanges, especially those handling large volumes of digital assets.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><strong>Also Read:\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/xrp-news-whale-shifts-63m-coins-as-ripple-strengthens-case\/\">XRP News: Whale Shifts 63M Coins As Ripple Strengthens Case<\/a><\/strong><\/p>\n<h2>Major XRP, ETH, BTC Hacks<\/h2>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/quick-adsense-reloaded\/includes\/gutenberg\/dist\/blocks.style.build.css?ver=2.0.82\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"dscf7-math-captcha-style-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/ds-cf7-math-captcha\/assets\/css\/style.css?ver=6.5.3\" type=\"text\/css\" media=\"1\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"logdash-activity-log-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/plugins\/logdash-activity-log\/assets\/build\/index.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"parent-style-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/style.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"bootstrap-css-css\" href=\"https:\/\/coingape.com\/wp-content\/themes\/coingapev3\/css\/bootstrap.min.css?ver=6.5.3\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"Carousel-css2-css\" href=\"https:\/\/coingape.com\/wp-content\/themes\/coingapev3\/css\/owl.carousel.min.css?ver=6.5.3\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"Carousel-css-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/css\/owl.theme.default.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-magazine-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/style.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-font-awesome-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/includes\/font-awesome.min.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"tablepress-default-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/tablepress-combined.min.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/maincss.css?ver=1719992815\"\/><\/noscript><\/p>\n<p>A week after the DMM Bitcoin attack, on June 10, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/crypto-platform-uwu-lend-offers-5m-to-catch-hacker\/\">UwU Lend<\/a>, a decentralized finance (DeFi) lending protocol, was compromised. The breach led to a loss of approximately $19.3 million in digital assets. This hack underscores the ongoing risks associated with DeFi platforms, which often operate with less regulatory oversight. The platform then offered $5 million reward for catching the hacker.<\/p>\n<p>Earlier in the year, on February 3, 2024, Chris Larsen, co-founder of Ripple, confirmed a major security breach involving his personal wallets. Initially, there were rumors that Ripple itself was targeted. However, Larsen clarified that the hack involved his digital wallets and not Ripple\u2019s corporate assets.<\/p>\n<p>The hackers managed to transfer a whopping 213 million XRP tokens, valued at approximately$112.5 million. Moreover, on-chain detective ZachXBT first alerted the community to the suspicious transactions. In response to the theft, Larsen and various crypto exchanges took swift action to mitigate the impact.<\/p>\n<p>Multiple exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC, collaborated to freeze a significant portion of the stolen funds. Binance alone froze $4.2 million worth of XRP to aid the investigation.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>Moreover, on April 2, 2024, FixedFloat, a Bitcoin Lightning-based exchange, experienced a security breach. Unauthorized transactions led to financial losses exceeding $3 million. This incident highlighted recurring security issues for FixedFloat, following a similar breach earlier in the year.<\/p>\n<p>The company also faced significant challenges in securing its platform against repeated attacks. Moreover, in February, hackers stole $26 million worth of Ethereum and Bitcoin from FixedFloat. These digital assets were then dumped to exchanges to realize profits.<\/p>\n<p><strong>Also Read:\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ethereum-leads-bitcoin-by-2x-in-network-fee-revenue-thanks-to-layer-2\/\">Ethereum Leads Bitcoin By 2x In Network Fee Revenue, Thanks to Layer-2s<\/a><\/strong><\/p>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/quick-adsense-reloaded\/includes\/gutenberg\/dist\/blocks.style.build.css?ver=2.0.82\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"dscf7-math-captcha-style-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/ds-cf7-math-captcha\/assets\/css\/style.css?ver=6.5.3\" type=\"text\/css\" media=\"1\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"logdash-activity-log-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/plugins\/logdash-activity-log\/assets\/build\/index.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"parent-style-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/style.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"bootstrap-css-css\" href=\"https:\/\/coingape.com\/wp-content\/themes\/coingapev3\/css\/bootstrap.min.css?ver=6.5.3\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"Carousel-css2-css\" href=\"https:\/\/coingape.com\/wp-content\/themes\/coingapev3\/css\/owl.carousel.min.css?ver=6.5.3\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"Carousel-css-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/css\/owl.theme.default.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-magazine-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/style.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-font-awesome-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/includes\/font-awesome.min.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"tablepress-default-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/tablepress-combined.min.css?ver=1719992815\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/maincss.css?ver=1719992815\"\/><\/noscript><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/ethereum-bitcoin-xrp-lead-1-5b-crypto-scam-losses-whats-happening\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/ethereum-bitcoin-xrp-lead-1-5b-crypto-scam-losses-whats-happening\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><\/noscript><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA205709\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/553e70235b864e8ebf27631328058cf4?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/553e70235b864e8ebf27631328058cf4?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/553e70235b864e8ebf27631328058cf4?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/553e70235b864e8ebf27631328058cf4?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD205709\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-important-highlights-from-the-recent-fed-meeting\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" 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decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The first half of 2024 has been marked by a surge in major hacks within the cryptocurrency space. Ethereum (ETH), Bitcoin (BTC), and XRP have led the crypto scam losses amounting more than $1.5 billion. This year, over 200 significant incidents have resulted in approximately $1.56 billion in losses. Crypto Scam Losses Hit $1.5B According [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":329978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-336700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/336700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=336700"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/336700\/revisions"}],"predecessor-version":[{"id":336708,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/336700\/revisions\/336708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/329978"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=336700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=336700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=336700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}