After suspicious deposits were found in a joint effort with major crypto exchanges, Atomic Wallet froze $2 million. Chainalysis and Crystal help Atomic Wallet to identify and stop any further threats. The investigation started after users reported unauthorised transactions were happening from their wallets.
In Q3 of 2023 rug pulls were the most common type of hack, making up over 65% of all hacks in the quarter. Reentrancy hacks came second, accounting for only 11.8% of all types of hacks in Q3. This may be because rug pulls are a relatively simple scheme to set up. Auditing a project after a scam happens is important for users to assess a project.
Earlier this year, the DEA lost over $50,000 in seized digital currency to a common crypto scam. They had confiscated around $500,000 in Tether from suspected illegal activities and stored it securely, but a scammer duped them by imitating a legitimate crypto address. The scammer received $55,000 when the agency sent over the cryptocurrency. Despite their efforts, the money was gone when they contacted Tether for help.
Contact a member of the Coincover team to find out how you can protect your assets.