As Exchanges Beef Up Security Measures, Hackers Get More Sophisticated

2020-01-21 Chainalysis

https://blog.chainalysis.com/reports/cryptocurrency-exchange-hacks-2019/

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Chainalysis’ Crypto Crime Report excerpt says 2019 saw more cryptocurrency exchange attacks than any prior year, but total confirmed exchange-theft losses fell to about $283 million because no single incident matched earlier mega-heists. The source explains that exchanges improved hot-wallet management, withdrawal authorization, and transaction monitoring, while prolific attackers adapted both intrusion methods and post-theft laundering. Chainalysis highlights the DPRK-linked Lazarus Group as a high-profile organization behind cryptocurrency exchange attacks and identifies it as the actor previously tracked in its reporting as “Beta Group.” The report also notes that stolen funds increasingly passed through mixers or CoinJoin wallets to obscure their illicit origins.

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