RATE Group | Why Hacked Accounts on Cryptocurrency Exchanges Rose Over 300% in 2017
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Why Hacked Accounts on Cryptocurrency Exchanges Rose Over 300% in 2017

08 Aug Why Hacked Accounts on Cryptocurrency Exchanges Rose Over 300% in 2017

Posted at 18:26h in Cryptocurrency News by

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Users and exchanges disregard information security and underestimate the capabilities of cybercriminals


4 min read

Opinions expressed by Entrepreneur contributors are their own.


 

The cryptocurrency industry is going through hard times. Rising fraudulent activity and increasing attention from criminals have plagued the digital asset industry, which is currently worth over $270 billion. A recent research says the number of hacked accounts on cryptocurrency exchanges websites rose 369 per cent in 2017 compared to the previous year, with 720 accounts across every major exchange been compromised.

Attack mode

The report, “2018 Cryptocurrency Exchanges: User Accounts Leaks Analysis”, released by Group-IB, an international company that specialises in preventing cyberattacks and develops information security solutions, is based on data of cyber attacks on the…

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