The amount stolen from cryptocurrency exchange continues to increase sharply, last week surpassing an all-time total of $1.3 billion, according to The Block’s research.
The ecosystem’s largest w...
The amount stolen from cryptocurrency exchange continues to increase sharply, last week surpassing an all-time total of $1.3 billion, according to The Block’s research.
The ecosystem’s largest weakness are the centralized institutions that hold users’ private keys. As the price of cryptocurrencies grew, large wallets controlled by exchanges became a honeypot for hackers. All reputable companies now keep the majority of their funds in cold storage. Only about 2% of the exchanges’ total cryptocurrency holdings is generally kept in hot wallets.
Two cryptocurrency exchanges were hacked in the last week, resulting in a loss of approximately $25 million. DragonEX, which claims to be “a safe and stable platform”, announced a hack on March 23 resulting in the theft of more than 20 cryptocurrencies worth about $6 million.
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source https://www.tokentalk.co/The Block/research-cryptocurrency-exchange-hacks-surpass-13-billion-all-time-61-coming-from2018-5ca214b02133cad2642fe7ae
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