Report: Blockchain-related hacks have declined in 2020
Analysts state that blockchain hacks should remain on the decline.
The amount of cryptocurrency and blockchain-related hacks has been decreasing over the course of 2020, a new report claims.
According to data analyzed by VPN provider Atlas VPN, the number of hacks in the first half of 2020 dropped more than three times compared to the same period in 2019. The data is part of a report released by Atlas VPN on Oct. 28.
According to Atlas VPN, 2019 was a record-breaking year for blockchain hackers that exploited 94 successful attacks in the first half of the year, while in H1 2020 there were 31.
Per the report, 2019 as a whole saw 133 successful attacks on blockchain networks.
Using the historical data, Atlas VPN’s analysts suggested that blockchain hacks will remain on the decline, stating:
“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.”
According to the report, hackers have stolen $13.6 billion through 330 blockchain-related hacks since 2009. Atlas VPN found that attacks targeting EOS-based decentralized apps, or DApps, were the most successful in terms of the number of breaches. EOS DApps are followed by cryptocurrency exchanges, blockchain wallets and Ethereum blockchain-based DApps, the report noted.
As previously reported, the total volume of cryptocurrency-related fraud and theft resulted in $4.4 billion losses in 2019. In comparison, hackers reportedly stole about $1.7 billion through crypto thefts and scams in 2018.