In 2020, the world has changed. After the first shock caused by the pandemic and the subsequent collapse of markets, people began to adapt to the new “isolation reality”. One of the main changes in everyday life was the massive transition to remote work.
Against this background, the number of cybercrimes has increased significantly. As the researchers predict, the number of attacks will continue to grow.
The cryptocurrency community and companies have been targeted by hackers for a long time. According to analysts, as of October, the blockchain industry has lost over $13.6 billion as a result of attacks since 2012.
However, this year, against the background of the boom, DeFi projects have become a favorite target of hackers. CipherTrace estimates that by November, attackers had stolen almost $100 million from DeFi protocols.
We will tell you about the main hacks of 2020, as a result of which users lost millions of dollars, and some companies closed down altogether.
The biggest hack of the year was the attack on the KuCoin cryptocurrency exchange.
Most often in 2020, DeFi protocols suffered from the actions of intruders. Several were attacked using an instant loan at once.
In addition to hacking protocols and platforms, cybercriminals actively traded user data.
KuCoin — one of the largest hacks in history (damage — $280 million)
The September attack on the KuCoin cryptocurrency exchange was one of the largest hacks in the history of the industry.
Initially, the damage was estimated at $150 million, but later analysts changed the estimate to $280 million. Hackers who hacked KuCoin laundered funds through mixers and the decentralized Uniswap exchange.
By November, KuCoin had returned most of the stolen funds to users and restored the deposit and withdrawal of assets.