Cyprocurrency: Most people are familiar with cryptocurrency. It is a digital currency. A system where transactions can be done without the interference of any country, banks or government. The number of people investing in these has increased. Among these, Bitcoin is the most popular. Its value is high. But…didn’t you know that online frauds have increased recently? Now hackers have stolen 7 million dollars worth of crypto currency in October alone. That figure is 3 billion dollars in a year. Let’s find out what this actually is.
Cyprocurrency: Cyber frauds have increased in recent times. These were mostly related to bank accounts. But now the criminals are looking for some way. At the same time, they are stealing cryptocurrency. This is because the value is higher. Hackers have stolen more than $3 billion worth of cryptocurrency in this year alone. That means it is more than Rs.24 thousand crores in Indian currency. They got this amount in about 125 hackings. To this extent, blockchain analytics firm Chinalysis said.
Chinalysis posted on its Twitter that the month of October ranked first in hacking activity of any year. Although there are still almost half days left in the month of October.. it said that the hackers are excited. At the same time, it has been clarified that in this month alone, cryptocurrency worth 718 million dollars (about 6 thousand crore rupees in Indian currency) has been stolen in a span of 15 days. Chinalysis revealed that these are in 11 different hackings. This explains that in total this year only 3 billion dollars worth of crypto has been stolen by online criminals.
Hackers stole 2.1 billion dollars worth of cryptocurrency in 2021. This year, that record has been broken, according to Chinalysis. Chainalysis revealed that hackers have focused on crypto exchanges for the past few years, but as they have strengthened their security systems, they are now focusing on cross-chain bridges. These cross-chain bridges have better opportunities for hackers to infiltrate, she said.
Cross-chain bridges are still a major target for hackers. 3 cross-chain bridges have been cyber-breached in this month alone. More than 600 million dollars of cryptocurrency was stolen in one go. This alone accounted for over 82 percent of the crypto stolen this month,” Chinalysis added in its report.
What Is Cryptocurrency?
A cryptocurrency is a digital currency. No government, organization or bank has any control or authority over this. It operates through an open source computer algorithm based network. Consumers control it. Transactions are also paid in the form of cryptocurrencies. Bitcoin is the most popular among cryptocurrencies. Ethereum, Tether, Binance Coin, Ripple are also popular. The value of Bitcoin is currently over Rs.15 lakhs. After that the value of Ethereum is over Rs.