All articles tagged with #crypto theft
A cancer patient lost $32,000 in cryptocurrency after installing a malicious Steam game called BlockBlasters, which was infected with malware designed to steal crypto wallets. The game, listed on Steam and later removed, was used as a scam to drain the victim's crypto funds immediately after a live stream, highlighting the risks of downloading unverified software from gaming platforms.
Wrench attacks on wealthy crypto holders are increasing, involving violence to force access to digital assets, as criminals target the high-value, easily transferable nature of cryptocurrencies. These attacks are fueled by the move of crypto into mainstream finance and the unique security challenges of controlling private keys, with victims often forced to surrender passwords through violence. Experts recommend measures like multi-approval wallets and maintaining anonymity to mitigate risks.
The U.S. Department of Justice has arrested a security engineer, Shakeeb Ahmed, on charges of wire fraud and money laundering, accusing him of stealing $9 million worth of cryptocurrency from an unnamed decentralized exchange. Ahmed allegedly exploited a vulnerability in the exchange's smart contracts, creating fake pricing data to generate inflated fees that he then withdrew. He attempted to launder the funds by converting them into different cryptocurrencies and moving them across blockchains. While the DOJ did not name the exchange, the details align with last year's theft from Crema Finance, a Solana-based decentralized exchange. Ahmed offered to return most of the funds in exchange for not involving law enforcement.