Blockchain hackers have stolen over $13.6 billion in 330 hack events

According to data analyzed by the Atlas VPN team, hackers have stolen $13.6 billion through 330 blockchain hack events year-to-date.

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Blockchain hackers have stolen over $13.6 billion in 330 hack events.THE POLICY TIMES

According to data analyzed by the Atlas VPN team, hackers have stolen $13.6 billion through 330 blockchain hack events year-to-date.

Most successful in terms of the number of breaches have been hacks targeting EOS DApps. EOS DApp providers have faced 117 breaches, which together amounted to $28.28 million in losses or approximately $241,785.8 per single breach. Next up are hacks aimed at cryptocurrency exchanges. In total, hackers have launched 87 successful attacks aimed at crypto exchanges, collectively netting $4.82 billion or a whopping $55.41 million per hack.

While there were significantly less successful hacks aimed at blockchain wallets, such breaches were the most profitable. Over the past 8 years, blockchain wallet providers have faced 36 hacks, which together amounted to $7.19 billion in losses or around $199,932,146.7 per breach.

Also read: Cyber Security: Why India needs new additions to the Cyber Security Policy?

Blockchain-related hacks are on the decline

Since blockchain technology was first invented in 2009, it has gone through many stages —from the introduction of the first cryptocurrency Bitcoin to smart contract creation to the initial coin offering craze and beyond. However, blockchain hacks have evolved over the years as well.

The data from previous years shows that the number of blockchain-related hacks has grown by 1450% from 2 registered breaches in 2012 H1 to 31 breaches in 2020 H1. However, the number of successful hacks in 2020 H1 has dropped more than three times compared to the same period last year.

Rachel Welch, COO of Atlas VPN, shares her thoughts on the decline of blockchain-related hacks:

“Since 2020 is not over, we can expect more blockchain-related breaches to happen before the end of the year. Nevertheless, based on the historical data, it seems that 2020 will not reach the record heights of last year, and blockchain hacks will remain on the decline.”

Also read: Government to launch a fortnightly newsletter showcasing policy and political moves

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Blockchain hackers have stolen over $13.6 billion in 330 hack events
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According to data analyzed by the Atlas VPN team, hackers have stolen $13.6 billion through 330 blockchain hack events year-to-date.
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THE POLICY TIMES
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