Hacks

The DOJ’s Retreat from Crypto Enforcement: A Double-Edged Sword

April 11, 2025April 11, 2025 Jorge Santos

In a significant policy shift, the U.S. Department of Justice (DOJ) has disbanded its National Cryptocurrency Enforcement Team (NCET), signalling a move away from broad regulatory actions against the cryptocurrency industry. This decision, aligned with the Trump administration’s pro-crypto stance, aims to reduce what it perceives as regulatory overreach and foster innovation in the digital asset space. A Cause for Concern: Potential Rise in Crypto Scams While the intention to support innovation is notable, the move raises concerns about the potential for increased crypto-related scams and fraudulent activities. The NCET…

Surge in Crypto Thefts: Over $2 Billion Lost in Q1 2025

April 10, 2025April 10, 2025 Jorge Santos

The cryptocurrency industry has been rocked by a sharp rise in cyber thefts, with more than $2 billion stolen in just the first quarter of 2025. Hacken’s Web3 Security Report shows that thefts are up 96% compared to the same period in 2024. This is one of the biggest waves of cybercrime the crypto sector has ever seen. Analysts suggest that rising geopolitical tensions, macroeconomic instability, and growing sophistication among cybercriminal groups are contributing factors behind this escalation. High-Profile Breaches Fuel Massive Losses Among the most devastating attacks was the…

Emerging AI-driven cyber threats: How criminals attract victims online

March 24, 2025March 24, 2025 Jorge Santos

The rise of generative AI has resulted in ground-breaking innovation in practically every field, including, sadly, cybercrime. Tools such as ChatGPT, FraudGPT, and WormGPT have reduced the barrier to launching complex social engineering assaults, allowing even “low-skilled” criminals to accurately simulate trust, authority, and professionalism. BlockDefenders has been actively monitoring how threat actors evolve. One of the most obvious trends in 2025 is that hackers will utilize AI to help them hack systems and manipulate people. This article discusses how artificial intelligence (AI) is being used to entice and deceive…

The Bybit Hack: A Vertical Attack

March 9, 2025March 9, 2025 Jorge Santos

The recent Bybit hack surprised the cryptocurrency industry due to the sheer volume of the loss, which involved an estimated $1.46 billion in Ethereum, as well as the vertical assault approach deployed. Rather than compromising Bybit’s core infrastructure, attackers targeted Safe{Wallet}, a provider of multi-signature wallet security. The attack exposes serious gaps in Bybit’s operational security and Safe’s failure to detect unauthorised system changes. This article offers a timeline of events, analyses Safe’s security flaws, investigates Bybit’s insufficient transaction processing procedures, and discusses what crypto organisations can learn from traditional…