Ethereum layer-2 scaling solution Starknet issued an urgent warning to its community about a compromise of its Discord server. The warning advised users to avoid interacting with the server, clicking on any links, or responding to messages until the situation is resolved.
The breach raises serious concerns about potential phishing scams, malware infections, and data theft. This incident highlights the growing trend of cyber threats in the cryptocurrency industry, which has been increasingly targeted by hackers.
A recent Immunefi report revealed that the crypto industry has suffered over $1.19 billion in losses from 149 hacks and scams in 2024. This represents a 16.3% increase from 2023. Centralized finance (CeFi) was hit hardest, accounting for $636 million (53.4%) of the losses across just six incidents.
In contrast, decentralized finance (DeFi) faced 143 incidents leading to $554 million (46.6%) in losses. The second quarter of 2024 saw a staggering 984% increase in CeFi losses compared to the same period in 2023.
In July alone, 14 incidents led to $269.4 million in losses, with hacks accounting for 98.9% of this total ($266.4 million).
The Starknet Discord breach is part of a broader pattern of high-profile security incidents in the crypto space. Recent months have seen major celebrities falling victim to account hacks, leading to financial losses from fake meme coin promotions.
The cryptocurrency market’s rapid growth and high value make it an attractive target for cybercriminals. According to Chainalysis, cryptocurrency-related crimes peaked in 2021, with $14 billion stolen. Although thefts decreased to $1.7 billion in 2023, the number of hacking incidents grew.
To combat these threats, the crypto industry is investing in advanced security technologies and enhanced protections. Regulators, including the SEC, are increasing their scrutiny of digital asset platforms to address and prevent fraud.
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