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AMSTERDAM, November 12, 2020 / PRNewswire / – Ten years have passed since the first official cyber-terrorist attack of a cryptocurrency exchange, and despite technological advancements, most cryptocurrency entities have not yet been able to develop sufficiently reliable security systems to reduce minimize security breaches on their platforms.
Cyber terrorists exploit security gaps more every year. In addition to security breaches, there are various types of fraudulent schemes that have provided a way for attackers to gain value from unsuspecting victims, such as exit scams and Ponzi schemes.
Crystal has compiled a complete and detailed report of all security breaches, fraudulent activity, cyber-terrorism and scams involving cryptocurrencies between the years 2011 and 2020. So far 113 security attacks and 23 fraudulent schemes have resulted in the theft of approx $ 7.6 billion value of crypto assets in total (which is comparable to the GDP of Monk).
The most common locations for exchange security breaches are the United States, the UK, South Korea, Japan, is China. The biggest crypto security breach so far was the incident involving the Japanese exchange Coincheck in 2018.
[READ THE FULL REPORT]
The most notable type of cyber-terrorism uses a security breach in the internal security systems of a cryptographic entity, resulting in illegal access to the cryptographic service’s hot wallets.
Over the next two months and years, as the number of blockchains continues to grow and the methods and technologies used by scammers continue to become more sophisticated and advanced, we can assume that the number of cyber-terror attacks will also continue to grow.
To see this data on an interactive map and to download the full report, visit ours Map of security breaches and fraud involving Crypto on the Crystal website.
(Note that: These data are updated for November 2020.)
About Crystal Blockchain:
Crystal is the all-in-one blockchain analytics tool for AML cryptocurrency compliance. Crystal supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) (including ERC-20 and ERC-721), Litecoin (LTC), Tether (USDT) and Ripple (XRP). Available as a free demo version, SaaS, API and for on-site installation. Designed by the Bitfury group.
For all inquiries, please send an email:
By Rozvadovskyy
[email protected]
SOURCE Crystal Blockchain
Related links
https://crystalblockchain.com
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