How was $4 billion in cryptocurrency stolen last year?

Is the number of hacker attacks on cryptocurrencies decreasing after the holidays?

Cryptocurrencies, as a new form of property, have attracted the attention of not only investors and users, but have become an unavoidable target for hackers.

These are currencies that exist only in the virtual world, so it could be expected that attacks on them would take place in the cyber world.

The motives are obvious, and that is gaining benefits, and it is equal to robbing a bank that has fiat currencies.

Truth be told, there are fewer and fewer classic bank robberies using force or firearms, while the number of cyberattacks on banking systems is on the rise.

The basic question that arises is how is it actually possible to hack cryptocurrencies when their functioning is based on a blockchain platform that is very reliable and secure?

Blockchain means that transaction records are stored on the devices of all participants in the blockchain system and therefore it is not possible to change transaction records on all devices.

It is practically impossible to find out on which devices transaction logs are located, and it is especially impossible to reach all devices.

One of the ways is to hack the crypto wallets of the users, ie to take over their identity.

Hardware crypto wallets are much more reliable than software wallets.

The target of attacks are software wallets that are more sensitive to attacks and it is not so difficult to take control of them.

After that, the attacker completely disposes of the funds from the hacked wallet and continues to transfer them to his account via several accounts.

Additionally, hackers transfer hacked cryptocurrencies through at least one or more mixers.

The aim of the mixing point is to pay the user some other cryptocurrencies in the same amount instead of the paid cryptocurrencies, and in that way, every trace of the digital currency payer is lost.

This is a hacker. From the above, it can be concluded that it is almost impossible to track down stolen cryptocurrencies.

Although there is no official data, according to some estimates, during the past year, 2021, cryptocurrencies worth about 4 billion US dollars were stolen!

This fact speaks in favor of the fact that hacking virtual currencies have become a lucrative business like other types of cybercrime.

It is interesting to look at the statistics of attacks that indicate that attacks are not carried out by individuals, weirdos, as it is often shown in movies in which such an appearance of a hacker is a light motive.

It was noticed that the number of hacks decreases during the New Year and Christmas holidays, from which we can conclude that these are organized groups operating under the guise of legal companies, as well as that employees in those companies regularly use their days off during the holidays.

In addition to the fact that statistics show that the number of hacker attacks decreases during the holidays, users of cryptocurrencies are advised to be extremely careful.