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Attackers attack both exchanges and ICO projects, often using stolen information about crypto investors for the purpose of further sale or blackmail
According to a report by the cybersecurity company Group-IB, in 2020 and the first 9 months of 2021, hackers hacked 14 cryptocurrency exchanges and caused $ 882 million in damage.Five of the 14 trading platforms (Yapizon, Coinis, YouBit, Bithumb, Coincheck) were attacked by North Korean hackers from the Lazarus group.
Experts noted that cybercriminals most often use spear phishing to attack crypto exchanges and ICO projects. For example, they send a fake resume with an infected document.
In the case of five hacked crypto exchanges after phishing, the Lazarus group conducted reconnaissance of the local network. The hackers were looking for servers on which they worked with the sites' private wallets.
"At the beginning of 2021, the attention of hackers to crypto exchanges only increased, so we expect that groups such as Silence, MoneyTaker and Cobalt can carry out several successful hacks," said Group-IB experts.
The report also notes that in 2020 cyber fraudsters took possession of 10% of all investments attracted during the ICO. Group-IB added that one unnamed large group is stealing about $ 1 million of investments per month. However, analysts argue that the greatest damage was caused by the organizers of the ICO themselves - 80% of projects did not fulfill their obligations to investors and disappeared after fundraising.
In 2020, analysts recorded several cases of theft of information about ICO investors for the purpose of its further sale or blackmail. It is noted that theft of a white paper of someone else's project is gaining popularity among scammers lately.
Group-IB said that in 2021, crypto exchanges will become a new target for more "aggressive hacker groups" attacking banks, and the number of targeted attacks on sites will only increase.
At the same time, ForkLog notes that the data of Group-IB is at variance with the information of the company CipherTrace. The CipherTrace report says that the damage from hacks to bitcoin exchanges and trading platforms in the first nine months of 2021 alone to $ 927 million.
According to a report by the cybersecurity company Group-IB, in 2020 and the first 9 months of 2021, hackers hacked 14 cryptocurrency exchanges and caused $ 882 million in damage.Five of the 14 trading platforms (Yapizon, Coinis, YouBit, Bithumb, Coincheck) were attacked by North Korean hackers from the Lazarus group.
Experts noted that cybercriminals most often use spear phishing to attack crypto exchanges and ICO projects. For example, they send a fake resume with an infected document.
In the case of five hacked crypto exchanges after phishing, the Lazarus group conducted reconnaissance of the local network. The hackers were looking for servers on which they worked with the sites' private wallets.
"At the beginning of 2021, the attention of hackers to crypto exchanges only increased, so we expect that groups such as Silence, MoneyTaker and Cobalt can carry out several successful hacks," said Group-IB experts.
The report also notes that in 2020 cyber fraudsters took possession of 10% of all investments attracted during the ICO. Group-IB added that one unnamed large group is stealing about $ 1 million of investments per month. However, analysts argue that the greatest damage was caused by the organizers of the ICO themselves - 80% of projects did not fulfill their obligations to investors and disappeared after fundraising.
In 2020, analysts recorded several cases of theft of information about ICO investors for the purpose of its further sale or blackmail. It is noted that theft of a white paper of someone else's project is gaining popularity among scammers lately.
Group-IB said that in 2021, crypto exchanges will become a new target for more "aggressive hacker groups" attacking banks, and the number of targeted attacks on sites will only increase.
At the same time, ForkLog notes that the data of Group-IB is at variance with the information of the company CipherTrace. The CipherTrace report says that the damage from hacks to bitcoin exchanges and trading platforms in the first nine months of 2021 alone to $ 927 million.
