By Ashwani Mishra, Editor-Technology, 63SATS
Cyber fraud and digital threats continue to surge worldwide. The U.S. saw record fraud losses of $12.5 billion in 2024, with investment scams leading the trend. Assam is setting up India’s first AI-driven cyber lab to combat deepfake threats. Elon Musk’s platform X suffered major outages, with claims of a cyberattack near Ukraine. Cybercriminals exploited Trump’s cryptocurrency to spread malware via fake Binance emails. The Desert Dexter hacking campaign targeted 900 victims across MENA, using Facebook and Telegram.
Meanwhile, a data breach at Central Texas Pediatric Orthopedics exposed 90,000 patients’ sensitive records, raising concerns over medical cybersecurity.
U.S. Fraud Losses Hit Record $12.5 Billion in 2024
Americans suffered record financial losses to fraud in 2024, reaching $12.5 billion, a 25% increase from the previous year, according to the U.S. Federal Trade Commission (FTC). Investment scams topped the list, accounting for $5.7 billion in losses, with a median loss of $9,000 per victim. Imposter scams followed, costing consumers $2.95 billion.
Alarmingly, 44% of all fraud reports came from young adults aged 20-29, highlighting a shift in cybercriminal targeting. Job scams have also surged, with losses skyrocketing from $90 million in 2020 to $501 million in 2024, as fraudsters exploit employment-related vulnerabilities.
Assam to Launch India’s First AI-Powered Cyber Surveillance Lab
The Assam government is taking a bold step in cyber defense by proposing India’s first AI-driven cybersecurity lab to combat deepfake threats and enhance digital surveillance.
Announced during the annual budget session, the initiative aims to fortify cyber forensics, threat intelligence, and law enforcement capabilities. Assam is also set to introduce India’s first AI-powered blockchain-based tea auction system, promising secure, transparent transactions for the industry. These innovations position Assam at the forefront of AI-driven governance and cybersecurity, showcasing its ambition to lead India’s fight against digital fraud and misinformation.
Elon Musk’s X Suffers Widespread Outages Amid Cyberattack Claims
Social media platform X (formerly Twitter) faced massive disruptions on Monday, impacting thousands of users in the U.S. and U.K. Downdetector reported tens of thousands of outage reports, with UK-based complaints peaking at 8,000+ cases around 14:00 GMT.
Users experienced connection issues, feed failures, and extended downtimes into the afternoon. Elon Musk attributed the outages to a “massive cyberattack” originating near Ukraine, though no evidence was provided. Given Musk’s previous criticism of Ukraine’s leadership, cybersecurity experts remain cautious about the claim, urging further investigation into potential technical failures or coordinated cyber threats.
Binance Scam Uses TRUMP Coin to Spread Malware
Cybercriminals are exploiting interest in Donald Trump’s cryptocurrency (TRUMP coin) through a phishing campaign masquerading as Binance communications. Fraudulent emails claim to offer TRUMP coin rewards for installing software or funding accounts, but instead, they deliver a remote access trojan (RAT), granting hackers control over victims’ devices.
This campaign raises serious concerns about the intersection of politics, cryptocurrency, and cyber fraud, especially after reports that companies tied to Trump have profited millions from TRUMP coin sales. Security experts warn users to verify all crypto-related emails before engaging in transactions.
Desert Dexter Cyberattack Targets 900 Victims via Facebook and Telegram
A new cyber espionage campaign, dubbed Desert Dexter, is targeting users across the Middle East and North Africa with a modified version of AsyncRAT malware. The campaign has infected at least 900 victims since September 2024, primarily in Libya, Saudi Arabia, Egypt, Turkey, UAE, Qatar, and Tunisia.
Attackers create fake Facebook accounts and Telegram channels to distribute malware-laced links, often disguised as news updates or advertisements. Researchers warn that regional tensions may be fuelling cyber warfare, with threat actors using social media as a weapon for mass infections and intelligence gathering.
Texas Pediatric Orthopedics Data Breach Exposes 90,000 Patients
A major data breach at Central Texas Pediatric Orthopedics (CTPO) has compromised sensitive medical and insurance information of at least 90,000 patients. The breach, reported to the Texas Attorney General on March 6, 2025, involved unauthorized access to confidential patient records, including government-issued IDs, health insurance details, and medical histories.
While the cause of the breach remains undisclosed, CTPO has begun notifying affected individuals. Experts warn that exposed medical data is highly valuable on the dark web, urging patients to monitor financial and insurance records for potential fraud.
