As digital assets increase, more advanced tools for the acquisition of illegally acquired quinns are under development. Recent studies have identified the United States as the focus of digital currency crime. The study also reports that cybercriminals have attacked virtually all the major digital exchanges.
The IB group recently conducted a study on hacking and security of the global digital currency market. According to the study, more than half of the digital currency criminality in the United States is occurring.
Of the fifty botnets that continuously monitor the weaknesses of digital currency exchanges, more than half of the suspected cases are related to the United States. The Netherlands is the next with 21.5%.
There is no safe haven
A digital currency hack is a clear and big threat to the industry. According to the IB Group, none of the world's top 19 platforms have been safe from illegal cybercrime attacks.
Details of this study indicate that about 720 accounts have been hacked on all major platforms. The statistics show a growth of 100% compared to 2019 with a total of 369 hacked accounts. More than a third of this number is in the United States. Russia and China are ranked next.
In 2018, we witnessed the onslaught of attacks on virtual trading platforms. The attacks began at the beginning of this year with the CoinCheck Swap Hacking. More than $ 1 billion in digital currency was stolen in the attack. In June, two South Korean operating systems, the Coinrail and Bithumb, also hacked.
Weak security system
The weak security system remains the root cause of all these problems. Ruslan Yusofov, project manager of the IB group, said:
The increase in fake activities, the attention of hacker groups to the crypto industry, the greater performance of the digital currency malware as well as the significant amount of stolen assets, suggests that the industry is not prepared to defend itself and protect its users.
According to the study, users and platforms alike need two-step authentication (2FA) and the use of complex passwords. The IB group reported that more than 20% of the 720 missing accounts had fewer than eight characters.
Do you use 2-step authentication (2FA) in your digital currency wallet? How do you keep your wallet safe?
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