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Modern crypto drainers don't hack wallets. They trick users into approving malicious transactions. Flare explores how the Lucifer DaaS platform scales wallet theft through phishing and automation. [...]
In recent years, cryptocurrency theft operations have evolved far beyond isolated phishing pages and fake NFT mint scams. What once consisted mainly of individual actors running malicious wallet-conn… [+11315 chars]
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The largest hack occurred in February 2025, when $1.5 billion in ether was stolen from a Bybit cold wallet.
Exchanges are major targets because they often hold large amounts of digital assets in hot wallets or through smart contracts that can be exploited by hackers.
Safety recommendations include keeping cryptocurrencies in offline cold storage when not actively trading and avoiding custodial accounts that lack insurance.
Yes, in the 2021 Poly Network hack, the attacker returned all stolen assets after developers appealed for the funds and requested exchanges to blacklist the hacker's addresses.