Hackers Steal Over $1 Billion in Cryptocurrency in Three Months

According to Atlas VPN, from July to September, the global cryptocurrency market lost more than $1 billion due to blockchain network hacks. The Ethereum ecosystem was hit the hardest, accounting for 20 hacker attacks in the third quarter.

The published statistics are based on an analysis of known attacks in this sector, compiled by the Chinese cybersecurity provider Slowmist. Financial losses were calculated based on the cryptocurrency exchange rate at the time of each cyber incident.

In total, hackers carried out 69 attacks on blockchain market participants over three months, stealing a combined $1.138 billion in cryptocurrency. Ethereum platforms suffered the most, losing over $800 million, including $613 million stolen in August during the Poly Network hack (the hacker was eventually convinced to return all the funds).

Cryptocurrency exchanges were targeted in five attacks, with total losses amounting to $114 million. The Japanese exchange Liquid was particularly affected, losing over $91 million from its hot wallet.

Overall, in the first three quarters of the year, the number of hacker attacks aiming for big cryptocurrency payouts has already exceeded last year’s level by 20%-166 attacks compared to 123. The 2019 record (133 attacks) was also surpassed, as was the total amount stolen ($5.5 billion then, now already $6.6 billion).