Crypto
Hackers Were More Active Last Year, but Less Successful
Data from blockchain analysis
firm Chainalysis has shown that last year cryptocurrency hackers were more
active, carrying out 11 major attacks on cryptocurrency trading platforms.
These were, however, less successful as the total amount stolen dropped from
$875.5 million in 2018 to $282.6 million in 2019.
In 2019, no attack reached the
scale of 2018’s biggest heists, which included the $500 million NEM hack from
Coincheck. Chainalysis’ methodology was limited to hacks that involved access
to crypto exchanges funds, and didn’t include payment processor thefts or
exit scams. The report reads:
“With no hacks taking in more than the $105
million stolen from Coinbene, both the average and median amount stolen per
hack fell substantially in 2019, after having risen each of the three
preceding years.”
The decline was attributed to
cryptocurrency exchanges getting better at limiting damage from hackers.
