Crypto Hackers Mainly Targets Americans, Here Is Why!

Nishanth Shetty

August 13, 2018 12:25 pm

Crypto Hack

Crypto Hackers Mainly Targets Americans, Here Is Why! | Coindelite News
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Cryptocurrency world has been undergoing many terrible hacking incidents. One of these incidents includes Coincheck hack which lost more than $500 million. According to the recent research conducted by Group-IB, says Americans are more targetted by cryptocurrency hackers.

A Russian based computer forensics and information security firm, Group-IB revealed their research in a report entitled, “2018 Cryptocurrency Exchanges-User Accounts Leaks Analysis.”

The research unveiled that in 2017, the number of “compromised login data” has grown to 369 percent while comparing to 2016. In January 2018, there were 212 leaks of login data, which described an increase of 689 percent to the monthly average experienced in 2017.

The research recognizes the interest towards cryptocurrencies which has increased in 2017. The study further reveals that most targetted countries are United States, Russia, and China.

The research highlighted the lack of two-factor authentication (2FA) options on the platforms and said the weak password is also a reason for the hack. Ruslan Yusufov, Director of Special Projects at Group-IB said the industry should learn from its mistakes and protect itself.

Mr. Yusufov Stated:

“Increased fraudulent activity and attention of hacker groups to crypto industry, additional functional of malicious software related to cryptocurrencies, as well as the significant amounts of already stolen funds, signals that the industry is not ready to defend itself and protect its users.”

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