The total amount of stolen cryptocurrency since the beginning of 2018 exceeded $900 million. Despite all warnings, the security systems of cryptocurrency exchanges and blockchain platforms remain extremely vulnerable.

Hackers bet on cryptocurrency

Since the beginning of 2018, hackers have stolen $927 million in cryptocurrencies, according to the report on money laundering in the III quarter of 2018, published by CipherTrace. This is more than hackers stole within the whole 2017. Moreover, this milestone, exceeding the volume stolen cryptocurrencies in 2017, was already surpassed in the II quarter of 2018.

Cryptocurrency exchanges are the most vulnerable platforms to hacker attacks and theft. Since the beginning of the year, they have lost $731 million in cryptocurrencies due to hacker activities. The largest hacker attacks were pointed at the Japanese Coincheck, which lost $530 million in January, and the Italian BitGrail, which lost $195 million. In Q3, the largest cryptocurrency losses were recorded on the South Korean Bithumb ($30 million) and on the blockchain platform Bancor ($23.5 million).

According to CipherTrace experts, by the end of the year, the stolen cryptocurrencies volume will reach $1 billion. And in 2019, the growth of thefts in cryptocurrencies will continue.

It is curious that the report CipherTrace notes that experts know about one hacker attack that resulted in losses of $60 million in cryptocurrency, but so far the incident is not supposedly made public. It is not revealed what platform or exchange was attacked.

Phishing and social engineering

At the end of H1, Kaspersky Lab recorded a massive outbreak of phishing attacks in messengers and social networks. With the help of fake sites that mimic wallets and exchanges, scammers managed to steal $2.3 million in cryptocurrencies.

The most popular phishing methods are fraudulent distributions of cryptocurrency, when attackers forged accounts of famous individuals and companies and promised on their behalf to distribute cryptocurrency for free.