Crypto theft and scams are not something new in the crypto world. Crypto hackers are always lurking, trying to make the most of any little opportunity they get around the globe.
Many thefts and scams have happened all over the globe, something which basically means that, crypto hackers are into serious business and no matter wherever you find yourself on the planet, so far as you owe cryptocurrencies or have any connection to them, you better not slip up else there won’t be any going back from that.
However, it seems crypto hackers are more interested in the coffers of American crypto investors than any other group of investors across the globe, according to reports from a research.
This may not be surprising to many crypto fanatics as the U.S crypto market has been under repeated hacks and scams, epitomized in the hacks of huge crypto exchanges. With Asia holding the biggest crypto market, it would be presumed to be the more favorable place for crypto hackers, given the size of the market.
According to Group-IB, a Russian based computer forensics, and info security form, the U.S crypto market, arguably the biggest market after the Asian crypto market have seen numerous leaks in their networks as compared to others.
In addition to that, American crypto investors are mostly main targets in crypto attacks, meaning that funds from the hack of cryptocurrency exchanges have been mainly American funds.According to the report, the amount of compromised login data rose by a huge 369 % last year as compared to that of the year before.
The American crypto market also 212 login data being compromised in January alone this year, representing an increase of 689% to that of the monthly average last year. As to why Americans are now hackers favorite wasn’t elaborated enough in the findings but they did stress on the fact that most American crypto platforms and investors lacked two-factor authentication (2FA) on their accounts and were mainly into the use of basic passcodes which makes hacks easier for crypto criminals.
As big as the U.S crypto market is, you would expect more when it comes to security but that seems not to be the case. Russia and surprisingly China took the second and third positions respectively.
The Chinese government has rained down hell on cryptocurrencies and ICOs, the past few years, discouraging many investors and potential ones, and so to be on the radar of crypto hackers, sounds a bit weird.
The crypto market, regardless of what’s going on now isn’t going to collapse anytime soon and investors are also not looking to back out now, meaning hackers will also be on their toes, so until the needed security measures and precautions are put in place, these kinds of stories will be coming out more often.