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Blockchain Hackers Have Stolen Over $13.6 Billion in 330 Hack Events

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Hackers Have Stolen Over $13.6 Billion from 330 Hacked Blockchain Events

According to data analyzed by the Atlas VPN team, hackers have stolen $13.6 billion through 330 blockchain hack events year-to-date.

Most successful in terms of the number of breaches have been hacks targeting EOS DApps. EOS DApp providers have faced 117 breaches, which together amounted to $28.28 million in losses or approximately $241,785.8 per single breach.

Next up are hacks aimed at cryptocurrency exchanges. In total, hackers have launched 87 successful attacks aimed at crypto exchanges, collectively netting $4.82 billion or a whopping $55.41 million per hack.

While there were significantly less successful hacks aimed at blockchain wallets, such breaches were the most profitable. Over the past 8 years, blockchain wallet providers have faced 36 hacks, which together amounted to $7.19 billion in losses or around $199,932,146.7 per breach.

Blockchain-related hacks are on the decline

Since blockchain technology was first invented in 2009, it has gone through many stages — from the introduction of the first cryptocurrency Bitcoin to smart contract creation to the initial coin offering craze and beyond. However, blockchain hacks have evolved over the years as well.

The data from previous years shows that the number of blockchain-related hacks has grown by 1450% from 2 registered breaches in 2012 H1 to 31 breaches in 2020 H1. However, the number of successful hacks in 2020 H1 has dropped more than three times compared to the same period last year.

Rachel Welch, COO of Atlas VPN, shares her thoughts on the decline of blockchain-related hacks: “Since 2020 is not over, we can expect more blockchain-related breaches to happen before the end of the year. Nevertheless, based on the historical data, it seems that 2020 will not reach the record heights of last year, and blockchain hacks will remain on the decline.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Cryptocurrency

Pizza Hut Joins Burger King, Church’s Chicken to Accept Crypto Payments in Venezeuela

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Pizza Hut has joined other global fast-food chains like Burger King and Church’s Chicken already accepting crypto payments in Venezuela.

This was confirmed by a crypto services firm, CryptoBuyer, on November 27 after pizza Hut stores in the South American nation partnered with Mega Soft to drive adoption in Venezuela by encouraging crypto payments in its over 20,000 shops and businesses in the country.

Pizza Hut nowadays cannot be detached from these technological advances and all those incorporating new approaches for daily necessities,” said Richard ElKhouri, General Director for Venezuelan operations of the pizza chain, in an interview with local news outlet ElAxioma. “It is important that we accommodate young people, modern adults, and people technologically knowledgeable.”

According to Elkhouri, customers can buy pizza with Bitcoin (BTC), Litecoin (LTC), Dash (DASH), Binance Coin (BNB), Binance USD (BUSD), Ether (ETH), Tether (USDT), Dai (DAI), and its native token XPT.

This will further help deepen cryptocurrency adoption in the country and across the South American region.

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Cryptocurrency

Bitcoin Rebounds; Gained 7 Percent to $18,116 Per Coin Amid Renewed Demand

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Bitcoin recovered most of its lost ground in the last 24 hours after dropping about $3,000 from $19,400 it exchanged a week ago to $16,800 per coin.

The world’s most dominant cryptocurrency gained 7.01 percent to close at $18,116.31 per coin on Monday morning at 8:46 am Nigerian time.

Investors jumped on the digital currency after Guggenheim Funds Trust filed an amendment with the U.S. Securities and Exchange Commission to allow its Macro Opportunities Fund to invest as much as 10 percent or $500 million of its $5 billion net asset in Bitcoin through Grayscale Bitcoin Trust (GBTC).

The news bolstered Bitcoin attractiveness as cryptocurrency investors interpreted as a new capital inflow that could aid the coin above the $20,000 per coin obstacle or resistance.

According to the amendment filed: “The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”), a privately offered investment vehicle that invests in bitcoin. To the extent the Fund invests in GBTC, it will do so through the Subsidiary.”

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Cryptocurrency

Cryptocurrency: Facebook Owned Libra to Launch Stablecoin in January 2021

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Facebook Inc led Libra Association is planning to launch Libra stablecoin pegged to only the United States Dollar as early as January 2021, according to three anonymous people quoted by the Financial Times.

The stablecoin was initially proposed to be pegged to a basket of multiple currencies before the group faced several setbacks after the US parliament pressure Facebook on data breach and other issues that allegedly allowed Russia to meddle in the 2016 US presidential election.

The social media giant has now cut down on its ambition to focus on US dollar-pegged stablecoin in an effort to reduce regulatory bottleneck.

PayPal Inc., one of the first members of Libra Association that pulled out after regulators increased scrutiny on Facebook operations, has since started a cryptocurrency exchange business.

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