Crypto Safety in 2024: SlowMist’s Q2 Evaluation and Key Takeaways 

• SlowMist assisted in freezing $20.66 million in stolen funds throughout 13 platforms in Q2 2024.
• Personal key leaks, usually as a consequence of improper storage in cloud companies, had been a significant theft trigger in Q2 2024.
• Phishing assaults exploiting faux Twitter accounts and feedback beneath standard tweets had been prevalent in Q2 2024.

Blockchain safety agency SlowMist launched its Q2 2024 evaluation, detailing developments in cryptocurrency theft. The agency obtained 467 stolen fund studies, with 146 from worldwide sources and 321 home. Primarily based solely on type submissions, SlowMist’s staff offered free assessments for victims.

In Q2 2024, SlowMist’s efforts led to the freezing of roughly $20.66 million in stolen funds throughout 13 platforms, helping 18 victims. The first causes of those thefts had been non-public key leaks and phishing assaults.

Personal key leaks proved a significant vulnerability, with customers usually storing their keys or mnemonic phrases on cloud companies like Google Docs and Tencent Docs, and even sharing them by way of messaging apps like WeChat. Hackers exploited these practices, utilizing “credential stuffing” strategies to realize entry to cloud companies with leaked credentials, thus simply stealing crypto info.

Phishing assaults additionally contributed to quite a few thefts in Q2 2024. Scammers posed as customer support brokers to trick victims into revealing their mnemonic phrases, or used phishing hyperlinks on platforms like Discord to acquire non-public key info. Pretend wallets introduced one other menace, with customers unknowingly downloading malicious pockets apps by way of search engine advertisements or third-party websites.

Evaluation revealed that roughly 80% of the primary feedback beneath tweets from outstanding mission accounts had been phishing scams. Scammers bought Twitter accounts with established follower counts and put up histories to look official, then posted phishing hyperlinks to deceive customers.

Honeypot scams had been additionally prevalent in Q2 2024, luring traders with enticing prospects however stopping them from promoting their bought tokens. Many honeypot incidents occurred on the Binance Good Chain (BSC), the place scammers created tokens with faux buying and selling exercise to simulate widespread participation.

SlowMist continues to supply free neighborhood help companies for evaluating stolen cryptocurrency instances. With intensive expertise in anti-money laundering and complete investigation instruments, the agency goals to reinforce digital asset safety and foster a more healthy cryptocurrency ecosystem.