In the second quarter of 2018, the number of hacker attacks on cryptocurrency trading platforms doubled compared to the first quarter. Most often, cybercriminals have stolen traders ' data with the help of malicious software, vulnerabilities and bugs, against which they have not yet come up with protection mechanisms.
According to technical Director cryptocurrency platform Quppy Yuri Katin, a major cause of vulnerability exchanges is not stable enough system of security and centralization.
The main reasons for the vulnerability of crypto-exchanges are two-the lack of security standards and a frivolous attitude to this issue. Compared to the banking industry, crypto-exchanges have no stable security mechanisms, no certified verification procedure, and so on. If exchanges were truly decentralized, as claimed, attacks would not result in loss of user data.
Now hackers often do the following scheme, says Rinks — from own accounts to purchase large volume of illiquid coins, and then use many of the stolen keys from purses are buying them for more liquid bitcoin and lead them into the Fiat. Even if users manage to regain access to the wallet, they find a large number of useless coins in their account.
In March, dashlan startup analysts announced that 70 percent of the 35 largest cryptocurrency exchanges have vulnerabilities that expose users to financial risks.
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