According to the Crystal blockchain report, $400M were stolen from centralized exchanges and $1,8B from DeFi services in 2021. The largest hack in 2021 was the Bitmart incident when attackers stole $200M in various cryptocurrencies. The stolen virtual assets were withdrawn from the exchange’s hot wallet. The hack became possible due to the private key
Since the release of the upgraded CER score at the beginning of 2021, we have actively communicated with crypto exchanges and collected a lot of feedback regarding our security score. The most common request has been related to the Cybersecurity Score (CSS) review. More than 80 exchanges have submitted information regarding their security audits and
Cybersecurity of cryptocurrency exchanges is paramount in today’s increasingly digital world. These platforms are responsible for large amounts of tokens often worth tens of millions of dollars, belonging to thousands of unique users. Cryptocurrency exchanges are also susceptible to multiple major threats – they risk attack from traditional banking cybersecurity vectors as well as weaknesses
Crypto exchanges are lucrative targets for hackers. Find about vulnerabilities, threats, and ways exchanges protect your assets.
As defined by Investopedia, liquidity “describes the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset’s price.” Hence, liquidity is one of the most essential qualities that traders and investors usually look for in modern crypto exchanges. The liquidity of a given currency on
Collaboration Background Regular observers of crypto news will have noticed that the conditions of the crypto exchange market are continually becoming more and more volatile. Incomprehensible hacks (such as the Cryptopia Exchange), constant cases of exit scams, unexpected closures of seemingly successful projects, suspicious deaths and abnormal crypto assets storage systems (like that of the
In November, we announced the launch of a special global project, the Transparency Hackers Initiative, that is dedicated to detecting exchanges’ hot and cold wallets and validating exchanges’ total balances. The goal is to determine if crypto exchanges do indeed possess the amount of money they should, according to public statements. We launched this project
Table of Contents The merger of crypto and crypto hacks: A Short History Crypto exchange hacks Statistics Advantages of BB Can a researcher blackmail me? Afterword The merger of crypto and crypto hacks: A Short History 2009 — the bitcoin network was born when Satoshi Nakamoto mined the first block of the chain, known as
General Information LBank is a Hong-Kong based crypto exchange focused mainly on the Chinese market. The exchange is ranked 12th by Coin Market Cap with $237.5 mln 24h trade volume (as of October 22). The Platform Launch Date Controversy The exchange’s English website version and description of the company state that it was launched in
