In recent times, the cryptocurrency market has witnessed a surge in cyber attacks and scams. The latest incident involves Defiance Capital, a hedge fund that was targeted by hackers. The scam began with an announcement on the fund's official X account, claiming that all users were eligible for a token distribution. However, the fund's CEO, Arthur Cheong, quickly revealed that the account had been hacked and the announcement was a scam. Users were advised against clicking on links related to the scam.

This incident is not an isolated case. On the same day, BtcTurk, a Turkey-based cryptocurrency exchange, also reported a cyber attack. The hackers managed to gain unauthorized access to some of the exchange's hot wallets, compromising 10 different cryptocurrencies. The cold wallets, which contain most of the exchange's assets, remain unaffected. BtcTurk temporarily suspended deposits and withdrawals as a precautionary measure and is working with Binance to recover the stolen funds.

Another platform, CoinStats, also warned users of a security breach affecting in-app wallets. Some wallets created within the app were compromised, and users were advised to transfer their funds to other platforms for safekeeping. CoinStats also encouraged users to export their private keys to minimize potential losses.

These incidents highlight the growing concern of crypto scams and the need for vigilance among crypto enthusiasts and investors. It is crucial to avoid phishing links and any other suspicious information to protect your digital assets.