Hackers
Hackers are individuals who use technology to gain unauthorized access to computer systems, networks, or other digital information. Hacking can be used for malicious purposes such as stealing private data or disrupting services, but it can also be employed in a positive manner such as finding security vulnerabilities or performing an ethical hack.
Cryptocurrency and hackers have been intertwined since the early days of Bitcoin when Silk Road was founded in 2011. A number of major hacks have occurred over the years resulting in millions of dollars worth of cryptocurrencies being stolen from exchanges and wallets. The most infamous case is probably Mt Gox which saw 850k BTC (now worth around $10 billion) stolen from their exchange between 2011-2014.
The majority of cryptocurrency theft is caused by attacks on individual users’ computers rather than hacking into centralized exchanges themselves. This is done via phishing scams that dupe victims into downloading malware onto their devices or transfer funds to a hacker-controlled wallet address without realizing it; these types of cases make up the vast majority (~90%) of all crypto thefts according to CipherTrace estimates in 2020. For this reason, it’s very important for users to take steps like keeping anti-virus software updated, setting strong passwords on accounts and wallets, and using two factor authentication wherever possible when dealing with cryptocurrencies online – basic cyber security measures will go a long way towards protecting your assets from hackers!
