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Cryptocurrency Hackers Target Americans, According To Recent Study

A recent study that investigated data accrued from crypto exchanges highlights that American citizens are the main targets for cryptocurrency hackers. The research was overseen by Group-IB, an information security firm. The group published their study in a report called “2018 Cryptocurrency Exchanges-User Accounts Leaks Analysis.”

As reported by CNN, the entity brought to light that last year the number of cryptocurrency hacks rose by a staggering 369 percent as compared to the year before it. In January of this year alone, there have been 212 compromised accounts. This represents a growth of 689 percent from the monthly medium witnessed last year.

According to the report, the buzz surrounding cryptocurrency has also significantly drawn hackers into this field. The research discloses that the three principal countries targeted the most by hackers are the United States, Russia and China. The report says crypto trades have endured hacks because of the complexity of the instruments utilized. Programmers have now adapted assault techniques, making the digital asset exchanges more vulnerable than ever.

The study found that crypto trades have experienced assaults that have brought about monetary misfortunes totalling nearly 80 million dollars. Group IB says that it has recognized more than 50 botnets responsible for this. It also confirms that the programmers foundation of the hacks spread over the globe, with the larger part situated in the United States and the Netherlands. Group-IB suggests that the hacker accounts featured in their study utilized exchanges such as Bithumb.

Experts in the research organization have found a direct link between the rising global interest surrounding cryptocurrency and hackers targetting crypto accounts. Towards the end of last year, one of the most popular topic in the news was ‘Bitcoin’. Meanwhile, ‘How to buy bitcoin’ became one of the most searched query in the Google platform.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Siranjeev has been involved in content development and professional writing for over five years now. He's worked with tech firms, digital management companies and blog outlets. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy the website.

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