With the increasing popularity of digital assets, some illegal elements have begun to try to obtain cryptocurrencies by various means. In the latest report released by Group-IB, the United States has become the “core” of global cryptocurrency crimes, and almost all top cryptocurrency exchanges have been attacked by cybercriminals.
More than 50% of the cryptocurrency crimes originated in the United States.
Group-IB’s global cryptocurrency market research report focuses on hackers and cybersecurity. They point out that the number of cryptocurrency crimes in the United States accounts for more than half of the world. With 50 botnets searched on the cryptocurrency trading platform, half of the malicious traffic came from the United States, and the malicious attacks from the Netherlands accounted for 21.5%.
Cryptographic currency is not a safe haven
Hacking is one of the biggest risks of cryptocurrency exchanges. According to the Group-IB report, none of the 19 largest cryptocurrencies in the world have escaped the cybercriminals.
The report also revealed some details, and it is said that about 720 of all mainstream cryptocurrency exchanges have been leaked, up from 369 in 2017. In other words, in just one year, the number of accounts hacked by hackers has nearly doubled, and one third of the stolen accounts are from the United States, followed by Russia and China.
In 2018, the attack on the virtual currency trading platform did not slow down. At the beginning of this year, CoinCheck, the Japanese cryptocurrency exchange, suffered a devastating blow and lost a new currency worth about $500 million. In June this year, two South Korean well-known cryptocurrency exchanges Bithumb and Coinrail were also hacked.
Bad internet security culture
Ruslan Yusufov, head of the Group-IB special project, said that a bad Internet security culture is at the heart of the cryptocurrency hacking problem. He said:
“More and more hackers are beginning to pay attention to the cryptocurrency industry. The number of fraudulent activities and malware is also increasing. The amount of stolen cryptocurrency funds is even more amazing. All this shows that the industry is not ready to protect users. .”
According to Group-IB research, most users and cryptocurrency trading platforms are unaware of two-factor authentication (2FA) and the need to use complex passwords. Of the 720 hacked accounts, more than 20% of the account password length phrases are 8 characters.
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