[ad_1]
The biggest hits of 2018 in the crypto industry
cryptocurrency he lived a year full of both good and bad qualities. As the crypt grew this year, so did the amount of security questions. According to the CipherTrace blockchain security entity, this year, $ 927 million has been stolen from cryptocurrency platforms and platforms. The research appeared Cryptocurrency Anti-Money Laundering of 2018 Q3. This report also showed that this year they were stolen 3.5 times more than in 2017.
In addition, he also indicated that the theft of cybersecurity could exceed one billion dollars and that some companies already believe they are. As the report states,
"These figures indicate a number of smaller robberies on a regular basis and sophisticated cyber-criminal professionals who hack both at the platform and the exchange level by capitalizing on exposed vulnerabilities, as well as by social engineering employees working in these companies."
The big question that arises is how hackers managed to steal so much this year. Interestingly, research data show that the most significant hacks have occurred over the past five years. One of the most important hacks took place against the Japanese exchange Coincheck.
Coincheck and its investors have lost $ 530 million of NEM coins and one has exceeded the amount of the famous hack of Mt Gox, which was $ 80 million. Many have wondered why hackers have been so successful. Some believe it has to do with the fact that Coincheck kept his coins in a "hot wallet", which is a digital storage tool that connects online, as opposed to a "cold wallet", which is a storage tool digital that does not connect online. Safer entities tend to keep their funds offline in a cold wallet.
The NEM Foundation registered to the hack by acting on a hard fork software update that made the stolen coins worthless. The fork has led to the creation of a tagging system so that hackers can not make transactions using coins.
Less than a month later Coincheck has been hacked, another company Bigrail has been breached of its $ 195 million dwarf coins. When discussing the modification of Bigrail, some have claimed that the platform was involved. For example, Fortuna reported that Bigrail stopped all deposits and withdrawals of his coins a few weeks before the place of the hacker tool. The platform also announced that it would start applying its identity verification measures. These unexpected political changes have led users to wonder that the "exit scam" was destined to occur. Subsequently, the government seized the assets of the entity.
After Bigrail, the hacks occurred on small exchanges that caused the loss of millions of dollars. A Coinrail of the South Korean exchange he indicated that the hackers stole about $ 40 million in cryptocurrencies and, fortunately, the platform was able to recover two-thirds of the funds, thus reopening for businesses.
Then, Bithumb, another South Korean stock exchange, has experienced a hack. Although smaller than the Coinrail hack, the cryptocurrency community was particularly surprised by this. Several reports indicated that assets were subtracted from the exchange and that XRP was somehow involved.
Bancor, an Israeli-based token development and exchange platform, has experienced the fifth largest hack. The platform has been compromised for $ 23.5 million due to the violation. In response, the platform has frozen $ 10 million in its native currency, BNT. This led to criticism from the community because freezing indicates that the platform is not completely decentralized.
According to CipherTrace, a research company, 97% of payments with Bitcoin came from addresses of countries that do not have anti-money laundering laws and that hackers had recycled 2.5 billion dollars. On the upside, many governments in the world have noticed the danger of weak laws and have changed their policies.
Dave Jevans, CipherTrace CEO, he has declared,
"Several geographic areas are in competition with regulations and are trying to become" reliable "digital currency centers in order to grow their economies.We will see opportunities to recycle cryptocurrencies significantly reduced over the next 18 months, when AML regulations cryptocurrency will be disseminated globally ".
Japan has also promulgated standards for securing the cryptocurrency industry, called the Virtual Currency Act. This law has developed a method of trading license for their operations, subject to compliance with government requirements. The government will interrupt the exchange for non-compliance.
The hacks and regulations it could change the market in 2019.
[ad_2]Source link
