Crypto Exchanges Are Cracking Down on Hackers, Chainalysis Report

Hacking attacks on crypto exchanges are becoming the norm, according to a recent report by Chainalysis. However, this also means that platforms are much better prepared, which explains why the total value of stolen crypto funds declined last year.

Number of Exchange Hacks Updated Record in 2019
Blockchain analysis firm Chainalysis published on Tuesday an excerpt of its 2020 Crypto Crime Report, with the full version being scheduled for release later this month. According to the research, 2019 saw 11 hacking attacks on crypto exchanges, compared to 6 in 2018, which was a record at the time.
However, even though hackers doubled their previous record in terms of how many platforms they reached, the amount of stolen funds is three times lower than in 2018. The colors on the chart below show the contribution of each hack to the total…

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