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In 2024, nearly $500 million in cryptocurrency was stolen through wallet drainer malware, impacting over 332,000 victims. These malicious attacks trick users into signing fraudulent transactions, allowing the attackers to transfer assets out of their wallets. The scale of these attacks highlights a significant increase in the sophistication of cryptocurrency-related cybercrime, with $494 million being lost to these scams in the past year alone. The use of wallet drainers poses a substantial threat to cryptocurrency users.

Scam Sniffer reported a 67% year-over-year increase in stolen funds, despite only a 3.7% increase in affected addresses. The first quarter of 2024 saw the highest activity with 175,000 victims and $187.2 million in losses. While attacks were more frequent early in the year, the largest individual thefts occurred in August and September. These findings emphasize the need for enhanced security measures, user education on avoiding such scams and being vigilant.

ImgSrc: ciso2ciso.com

References:

• CISO2CISO.COM & CYBER SECURITY GROUP - Wallet Drainer Malware Used to Steal $500 Million in Cryptocurrency in 2024 – Source: www.securityweek.com - 2d
• @BleepingComputer - Scammers stole $494 million worth of cryptocurrency in wallet drainer attacks last year that targeted more than 300,000 wallet addresses. - 2d
• www.the420.in - Scammers Steal Rs 4200 Crore in Cryptocurrency Through Wallet Drainer Attacks in 2024! - 2d
• ciso2ciso.com - Wallet Drainer Malware Used to Steal $500 Million in Cryptocurrency in 2024 - 17h

Classification:

• HashTags: WalletDrainer CryptoTheft Cybercrime
• Target: Crypto Users
• Product: Cryptocurrency
• Feature: Malicious Transaction
• Type: Malware
• Severity: Major