“The number of compromised accounts on cryptocurrency exchanges websites increased by 369%” in 2017, reports the analysis conducted by computer forensics and information security firm Group-IB.
Furthermore, along with skyrocketing profits, bull runs bring equally high risks. Crypto hacks raised by almost seven times in January 2018, compared to the monthly average of 2017. The number of programs designed in this purpose is also on the increase, as attackers are constantly on the lookout to find new ways to infiltrate.
The study emphasized that hackers found access to hundreds of accounts on crypto exchanges using active botnets. A total of $80 million was stolen using “account leaks”, reported CCN. Popular exchanges are also popular targets, 2-Factor Authentication proves amazingly efficient in preventing leaks.
One of the most interesting findings was that “the USA, Russia, and China are TOP-3 countries in which registered users became the victims of cyber attacks. Every third victim is from the USA.”
The study concluded that some things are certainly in users’ power in order to protect their funds. Using 2-FA and a different password for each exchange and avoiding public internet networks to execute crypto-related operations are some of the easiest and most effective changes you can make to avoid a cyber attack.