Report: crypto breaches cost nearly $1.4 billion this year, money security needs to be vigilant

Abstract
According to the mid-year Web3 Security Report from cybersecurity firm Cyvers, the total amount of cryptocurrency funds stolen so far this year is approaching $1.4 billion as centralized exchanges become the new attack outbreak. total cryptocurrency losses in the second quarter of 2024 exceeded $600 million, a 100% increase from the same period last year.

According to the report, the main reason for the surge in stolen funds is the 900% increase in losses on centralized exchanges, and the issue of security of funds has become urgent!

There’s plenty more data in the same vein, with a report from blockchain research firm TRM Labs revealing that the value of cryptocurrencies stolen by hackers around the world more than doubled in the first half of this year compared to the same period last year.

The report says that between Jan. 1 and June 24, more than 200 major hacks occurred in the crypto space and $1.38 billion worth of cryptocurrencies were stolen, more than double the $657 million stolen during the same period last year. As with last year, a handful of large attacks drove the increase in stolen cryptocurrencies, with the top five hacks accounting for 70 percent of the amount stolen in the first half of this year.

TRM Labs said the main attack vectors in 2024 include private keys and seed phrases (a set of random words that store information needed to access or recover a crypto wallet).

The largest theft so far this year was the theft of more than $300 million worth of bitcoin from Japanese cryptocurrency exchange DMM bitcoin.

TRM Labs says that the security of the crypto ecosystem has not fundamentally changed, and that thefts are mainly concentrated on centralized exchanges, and urges everyone to keep their money safe.

SuperEx understands that securing user assets is crucial in this fast-changing environment, and in this article, we’ll share some important cryptocurrency security strategies and risk control tips to help you better protect your digital assets!

Multiple Authentication
Multiple authentication is an important means of ensuring account security. In addition to the common password login, we can also enable two-factor authentication (2FA) or biometrics such as fingerprint or facial recognition. This way, even if your password is compromised, it will still be difficult for hackers to access your account.

Now that SueprEx Authenticato has been available for a long time, it plays a vital role in the double protection of user security. We would like to urge those who have not done 2FA authentication or are not using SueprEx Authenticato to download it as soon as possible, as the safety of your assets is the most The safety of your assets is the most important thing.

Protecting your privacy
Here are a few tips for all users:

a. Do not disclose sensitive information: Avoid disclosing information about cryptocurrency holdings, transaction details and other sensitive information such as wallet addresses, private keys or transaction passwords on social media or public forums.

b. Use anonymity: Use anonymous usernames and avatars as much as possible.

c. Privacy Settings: Regularly check and update the privacy settings of your social media and online accounts.

d. Encrypted Communications: Use encrypted communications tools such as end-to-end encrypted chat applications.

e. Prevent Phishing: Be aware of phishing attacks and do not click on links from unknown sources.

f. Virtual Private Network (VPN): Use a VPN to hide your real IP address.

g. Educate yourself: Learn more about cryptocurrency security and privacy best practices.

Use a decentralized wallet with good asset segregation
Using a decentralized wallet with good asset segregation can reduce the security risk of cryptocurrencies to a certain extent, take Super Wallet as an example.

Keys under your control: SuperEx users who use Super Wallet store their private keys in their own hands, not in a wallet hosted by a third party. This means you have full control over your private keys and assets, independent of centralized exchanges or service providers.

Multi-signature mechanism: Super Wallet supports multi-signature mechanism. Unlike traditional single-signature wallets, multi-signature requires the authorization of multiple private keys for transactions to be completed. This mechanism is effective in mitigating potential risks as it requires the consent of multiple authorized parties to execute a transaction.

Multi-signature typically involves multiple private keys, which can be distributed in different locations or held by different entities, to ensure that even if one private key is compromised or invalidated, the authorization of the others is still required to perform the transaction. This helps protect wallets from hacking, social engineering attacks, or other potential threats.

This is something that SuperEx is tirelessly pursuing. The security of user funds has been an absolute core issue for SuperEx since its inception, and what protections have been put in place to do so?

Overview
SuperEx has 10 million+ registered users, 600,000+ social media users, covering 166 countries and regions around the world: it supports spot and contract trading of 1,000+ currencies, and combines perfectly with Super Wallet to provide users with decentralized asset storage, which also allows SuperEx to have the transaction efficiency of CEX and the asset security of DEX.

Transactions are 100% secure

All transactions are completed and broadcasted on the chain, which means that transaction information can be publicly accessed on the blockchain and cannot be tampered with, making transaction information safe and transparent.

Funds are 100% secure

SuperEx went live with Connect Wallet in September 2022, everyone’s funds are controlled by the wallet on the chain, the private key is in your own hands, and there is zero risk to your assets.

Accounts 100% secure

SueprEx Authenticator protects accounts with “secondary authentication” to maximize the security of funds flow.

The security of exchange funds is a zero-sum game, it is not a problem of a certain point, but a comprehensive problem, which greatly tests the technical and financial strength of the exchange, and SuperEx is at the forefront of the security of global exchanges.

Zero risk, zero hidden danger, zero accident is SuperEx’s consistent pursuit!