Data Shows Crypto Hacks And Fraud In 2021 Are On Track For A New Record
Crypto hacks and scams are nothing new in the crypto space, but every time they happen, they still come as a shock to investors. Most especially the victims of these attacks. Bull markets always seem to come with an increased number of attacks. So with a bull market that has raged on for the better part of a year, 2021 has definitely had its fair share of attacks, despite just entering its ninth month of the year. Related Reading | These attacks have accelerated with the recent crypto surge. Prices have been up across the board and it seems like this has been a cue for the attackers....
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While 2021 was the biggest year on record for crypto hacks, 2022 could “likely” beat the record “at this rate” according to Chainalysis. Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity” with the total hacked value for the month nearly reaching $718 million.Despite not being more than halfway through the month, Chainalysis said 11 different hacks on decentralized finance (DeFi) protocols had seen hundreds of millions exploited.Four exploits alone took place on Oct. 11 worth around $122 million. Hackers....
Attackers are exploiting poorly configured cloud accounts to mine crypto, Google warned users in a recent report. Cryptocurrency mining is a computationally intensive activity. And Google Cloud customers can access it at a cost. However, miners are now hacking Google Cloud accounts for mining purposes. In the report titled “Threat Horizons,” Google’s cybersecurity team assessed various threats to Cloud users, providing details of the breaches. Related Reading | Data Shows Crypto Hacks And Fraud In 2021 Are On Track For A New Record The report also provided....
Analysts state that blockchain hacks should remain on the decline. The amount of cryptocurrency and blockchain-related hacks has been decreasing over the course of 2020, a new report claims.According to data analyzed by VPN provider Atlas VPN, the number of hacks in the first half of 2020 dropped more than three times compared to the same period in 2019. The data is part of a report released by Atlas VPN on Oct. 28.According to Atlas VPN, 2019 was a record-breaking year for blockchain hackers that exploited 94 successful attacks in the first half of the year, while in H1 2020 there were....
Top crypto strategist known as Inmortal has revealed the three altcoins they think is ready for the next breakout. Immortal takes their pick from the top three altcoins that have been lagging recently. Even though they have been performing in the market, not performing to the level of other altcoins like ADA and SOL which have both broken new all-time highs in the market. Related Reading | Data Shows Crypto Hacks And Fraud In 2021 Are On Track For A New Record Inmortal took to their Twitter account, which boasts 64K followers, to share his price predictions with his followers.....
There is a silver lining from the DeFi hacks as new tech develops to protect the sector: "DeFi will be much safer in 12 months from now.” The rise of decentralized finance, or DeFi, could be paving the way toward a fully decentralized financial ecosystem. Yet, given the innovative nature of DeFi, the sector remains in constant development and is therefore prone to a number of vulnerabilities. Unsurprisingly, one of the biggest challenges currently facing the DeFi sector is security threats. This has become apparent as more DeFi hacks continue to wreak havoc across the crypto community.....