Ransomware cashouts down 35% as victims snub demand: Chainalysis
Ransomware attacks surged last year, but victim payments declined as users refused to meet demands amid increased recovery efficiency by law enforcement. The lucrative ransomware business earned less from victim payouts year-over-year despite a rise in attacks launched by bad actors in 2024, according to a Chainalysis crime report. The report found that ransomware payments […]
Kraken woos FTX victims with $50k fee-free trading incentive
Kraken is offering former FTX clients $50,000 in fee-free crypto trading incentives as part of its role in distributing funds following the collapse of the exchange. Cryptocurrency exchange Kraken is sweetening the deal for FTX victims in an effort to help them get back on their feet after the latter left hundreds of thousands of […]
WazirX hack victims to receive aid from new CoinSwitch fund
CoinSwitch has announced a $70 million recovery program, “CoinSwitch Cares,” aimed at helping WazirX users recover losses from a July 2024 cyberattack. The two-year initiative, seeks to restore confidence in India’s crypto ecosystem by providing financial relief to affected individuals. Announcing #CoinSwitchCares – a ₹600 Crore recovery fund for WazirX users. CoinSwitch Cares is a […]
CoinSwitch launches $70M recovery fund for WazirX hack victims
CoinSwitch expects it will take two years to distribute $70 million in recovery funds to WazirX users who lost money due to an alleged cyberattack last year. Source link
1 Million Victims Noted by U.S. Authorities
U.S. prosecutors estimate that Do Kwon, co-founder of Terraform Labs, could potentially have one million victims all around the globe following the downfall of the Terra ecosystem. This claim was made before a New York City court on Jan. 6, 2025, where Kwon is facing nine counts of felony relating to fraud at Terraform Labs. […]
Crypto scams cost French victims €500m annually, AMF says
French authorities are grappling with an alarming rise in crypto scams, which contribute to an estimated €500 million in annual losses. Financial scams continue to inflict heavy losses on French consumers, with the Paris Public Prosecutor’s Office estimating that victims lose at least €500 million each year. In a Thursday press release on Dec. 26, […]
Bankrupt Cryptopia exchange distributes $225M to hack victims
Initially owing creditors $4.2 million, Cryptopia’s liquidator Grant Thornton has distributed at least $225 million in crypto to hack victims in December. Source link
