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  • The amount of cryptocurrency and blockchain-related hacks has been decreasing in 2020, a new report says.

    Blockchains are the critical infrastructure underlying cryptocurrencies. The common feature of these distributed ledgers is the sequential updating of a cryptographically secure, verifiable transaction record among a network of peers all operating under a certain set of rules enforced through the software itself. This record is owned and operated in common by anyone globally.

    According to data which is analyzed by VPN provider Atlas VPN, the number of cryptocurrency hacks in the first half of 2020 fell more than three times in comparison to the same period in 2019. The data is part of a report released by Atlas VPN on Oct. 28.

    According to that, 2019 was a record-breaking year for blockchain hackers that exploited 94 successful attacks in the first six months of the year, while in H1 2020 there were 31.

    Per the report, 2019 as a whole faced 133 successful attacks on blockchain networks.

    Using the historical data, Atlas VPN’s analysts predicted 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.”

    The report revealed that hackers have stolen $13.6 billion through 330 blockchain-related hacks since 2009. Atlas VPN found that attacks targeting EOS-based decentralized apps (DApps), were the most successful ones in terms of the number of breaches. EOS DApps are followed by cryptocurrency exchanges, blockchain wallets and Ethereum blockchain-based DApps, the report said.

    As previously reported, the total volume of cryptocurrency-related fraud and theft led to $4.4 billion losses in 2019. In comparison, hackers stole about $1.7 billion through crypto thefts and scams in 2018.

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