This week, the cryptocurrency market saw a significant downturn, with multiple major exploits causing substantial financial losses. On June 24, 2024, CertiK Alert reported on X that the market experienced several significant cryptocurrency breaches, resulting in $74 million in losses across various platforms.
The Crypto Market Lost $74 Million This Week
The most severe breach occurred at BtcTurk, where approximately $54 million worth of cryptocurrencies were stolen. CoinStats also suffered a significant loss, with around $10 million taken. The sports betting platform SportsBet reported losing about $3.5 million, and Farcana lost an estimated 23,809,523 FAR tokens.
On June 23, 2024, following the security breach, CoinStats announced on X that they had mitigated the incident and temporarily shut down the app. They reassured users that no connected wallets or CEXes were impacted. Thanks to the team’s quick response, only 1.3% of wallets (1,590) were affected, though this number might change. CoinStats advised affected users to move their funds immediately using their exported private key, and they are investigating the extent of the moved funds with updates to follow.
Crypto Attack on June 23, 2024
In addition to the major attack this week, on June 23, 2024, the on-chain analytics firm Lookonchain reported on X about another significant phishing attack resulting in the loss of $11.1 million. The victim was tricked into giving up 3,657 MKR tokens worth $8.7 million and 2.56 million PT Ethena tokens valued at $2.4 million. The exploiter quickly sold the 3,657 MKR tokens for 2,502 ETH, causing the price of MKR to drop by 7%. Additionally, the 2.56 million PT Ethena tokens were swapped for 689 ETH.
Another $11 Million Lost in Phishing Attack
On the same day, June 23, 2024, another victim lost $11 million worth of aEthMKR and Pendle USDe tokens due to signing multiple phishing permit signatures. The exploiter made off with 3,657 aEthMKR tokens valued at $8.7 million and 2.56 million Pendle USDe tokens worth $2.4 million. The attacker sold the 3,657 aEthMKR tokens for 2,502 ETH, causing the price of aEthMKR to drop by 7%. Additionally, the 2.56 million Pendle USDe tokens were swapped for 689 ETH.
Not a financial advice.