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Popularity Of Bitcoin Attracts Hackers

Popularity Of Bitcoin Attracts Hackers

Cryptocurrencies like the Bitcoin attract many hackers. The volume of thefts has so far increased massively in 2018 compared to the same period of the previous year, with the number of unreported cases being high.

In the first nine months of this year, according to a study, hackers stole Bitcoin and other cryptocurrencies worth close to $1 billion. This is a plus of almost 250 percent compared to the same period last year according to the cybersecurity company CipherTrace.

The increasing popularity of the approximately 2000 cryptocurrencies attracts hackers. The most spectacular case was the attack on the Japanese trading platform Coincheck in January. At that time, criminals captured NEM coins worth $534 million. Also, the number of small thefts in the volume between $20 and $60 million dollars increased. However, the number of unreported cases is high, since numerous cryptocurrency thefts are not made public at all.