The growth rates and the popularity of bitcoin and other cryptocurrencies will become a magnet for cybercriminals and hackers who want to make a rally of digital currency in 2018. The price for the success of the industry is the wave of crime and fraud, which will undoubtedly follow.
Scammers have already begun to increase the activity. Earlier this month it was reported that the SEC ceased ICO Plexcoin for complaints of defrauded investors who lost $ 15 million. There are serious risks of investing in the cryptocurrency unregulated wallets and exchanges. However, the greatest threat will be hackers.
According to the Department of homeland security, between 2009 and 2015 was hacked a third of all bitcoin exchanges. During the same period, there were a growing number of one-off attacks and fraud against individual investors. Cryptocurrency is an extremely profitable business at the moment, given that many of them have record prices in recent weeks. This will encourage hackers to expand our activities, which include extortion, identity theft and banking Trojans.
Unlike conventional banks, which are insured, in the industry of cryptocurrency there is no system of insurance. There are more ways of penetration open to hackers and cybercriminals. Investors who lost their money due to theft, fraud or freezing of the accounts on the exchanges, almost never can count on reimbursement.
A long list
Victims of hackers have become a cryptocurrency exchanges, digital wallets, ICO, mining and a hosting company and virtual private servers.
Just this month, mining marketplace NiceHash was hacked, which resulted in losses of customer funds by more than $ 60 million. Last month was hacked
the purse project Tether, the result of which was stolen tokens more than $ 30 million. Last year, the world’s largest exchange Bitfinex has been kidnapped
120 000 bitcoins then worth about 72 million dollars.
The infamous hacking DAO in June 2016, has led to the loss of 3.6 million live broadcasts. The developers were forced to spend hardwork platform to prevent further losses. The Tokyo-based exchange MtGox has filed for bankruptcy in 2014 after it had been stolen 850k BTC.
In addition to the break-ins were DDOS-attacks, fraud with ICO and phishing attacks on individual investors. Chainalysis the research firm estimates that this year investors had stolen funds for $ 225 million. And it is hoped that next year this figure will be less.