n 2024, the cryptocurrency world will continue to face the challenge of hacking. According to a recent report by Chainalysis, the total loss from cryptocurrency hacks this year was $2.21 billion, out of 303 hacks, with North Korean hacking groups accounting for more than 61.5%.
The shocking truth is that these hacks lead to the theft of digital currencies spanning across multiple currencies including bitcoin , ethereum , and others, raising serious concerns among investors and regular users about the safety of their digital assets.
The most common hacking patterns this year were those that lured technology professionals into organizations’ access to key control systems, resulting in the theft of sensitive data and digital assets. Many of the attacks reportedly involved malware and ransomware attacks that were more aggressive than in the past.
In response to this increasing risk, many organizations and crypto trading platforms have started to improve and enhance their security measures by implementing advanced identity and encryption technologies, as well as training employees on how to control and prevent security breaches.
There have also been calls from the government to enact legislation to tackle crypto attacks on a par with the regulation of banks and other financial institutions, which would improve the scrutiny and reporting of irregularities and encourage the exchange of information between law enforcement agencies to track down offenders.
Experts also noted that digital financial systems need to develop new methods to control and reduce the risk of attacks, as good regulation leads to trust and stability in digital financial systems that can attract investment and drive market growth in the long run.
Overall, a combination of advanced security measures, policy reviews, and international cooperation will effectively mitigate the impact of attacks and develop a robust, user-friendly, and sustainable digital financial infrastructure in an era of ever-advancing and unpredictable technologies.
#Bitcoin❗
