Blockchain Hackers Stole $3.8 Billion in 2020

Atlas VPN found that blockchain hackers stole
nearly $3.78 billion in 122 attacks throughout 2020.
Blockchain-linked attacks that happened last year alone account for
almost a third (33%) of all time hacks aimed at blockchain

Ethereum (ETH) DApps were the most frequently breached
target. In 2020 alone, there were 47 successful
attacks aimed at ETH DApps, which cost victims around $436.36
million or $9.28 million per hack.

Cryptocurrency exchanges were also highly targeted last year. In
2020, there were 28 cryptocurrency exchange breaches, which
together amounted to $300.15 million in losses or approximately
$10.72 million per hack.

Blockchain wallets occupy the third spot in the list. Last year,
hackers launched 27 successful attacks aimed at crypto wallets,
netting $3.03 billion or around $112.12 million per hack. The
nature of blockchain wallets makes them the most profitable target
to cybercriminals.

Blockchain-Linked Hacks Drop for the First Time in 5

In 2020, blockchain-related hacks dropped for the first time in
the last five years. The year 2019 saw 133 coordinated attacks
targeting various blockchain platforms, apps, and tokens. In 2020,
the number decreased by 8% to 122. While the drop is not very
significant, it still indicates an overall decline in
blockchain-related hacks.

When it comes to this year, in January, two successful attacks,
as well as one blackmail case involving cryptocurrency, have
already been reported. Nevertheless, the numbers are not near the
ones recorded in the record-breaking year of 2019, when 31 attacks
took place in January alone.

Rachel Welch, COO of Atlas
, shares her insights for the year ahead:“It is hard
to say what the future holds for the blockchain in terms of
security. However, the blockchain-related breaches may continue to
decline in 2021.”

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Blockchain Hackers Stole $3.8 Billion in 2020
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