SlowMist, a leading blockchain security firm, has released its latest analysis on cryptocurrency theft trends in the second quarter of 2024.

The report identifies mishandling of private keys as the primary cause, often stored insecurely on cloud services or shared via messaging platforms, exposing users to hacking risks.

Fake wallets from third-party app markets and sophisticated phishing schemes on social media also pose significant threats, with attackers exploiting users' trust in legitimate platforms.

Additionally, the report warns about honeypot scams prevalent on decentralised exchanges, enticing investors with false promises of high returns.

SlowMist advocates for robust security practices and recommends tools like MistTrack and blockchain explorers to verify transactions and token legitimacy, emphasising education and vigilance as crucial defenses against evolving cyber threats in the crypto space.