Tag: cryptocurrency exchange
Overall, the dollar losses are mounting, but the number of incidents has stayed pretty much the same, averaging 9 per year. During the uptick that occurred around 2013, the average jumped from three incidents per annum in previous years to 11 afterwards. What happened in 2013? Well, it was the Year of Bitcoin, per Forbes…
Read MoreHackers have a soft spot for targeting cryptocurrencies thanks to a lack of heavy regulation unlike traditional financial services. Cryptocurrency funds have no legal obligation to implement protection measures, so inherently they are not as exhaustive or technical. This makes them prime targets for hackers. Transactions can be extremely difficult to reverse, so although some…
Read MoreIntroduction Ten months ago we asked a rhetorical question: will losses from cryptocurrency exchange hacks hit one billion dollars in 2018? Indeed, they did. Cryptocurrency theft is growing both in terms of frequency of attacks and breadth of targets. Attackers aren’t just cryptojacking and targeting exchanges. According to endpoint security provider Carbon Black, $1.1 billion…
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