Every digital platform is constantly under threat of cyberattacks. And this is a very common phenomenon in the crypto world. However, while the occurrence of cryptocurrency frauds is not new, it always leaves the investors disturbed. This is mainly true for people who have had the first-hand experience of such happenings.
While the market is making its way back to its normal functioning, 2021 has had a reasonable amount of attacks. Although, this has increased the pace of the latest cryptocurrency rush. With the high prices of every digital currency, hackers are attracted to swiping a few bucks for themselves.
This is mainly because it will get them a higher return with just one attack. It is expected that the cyberattacks in 2021 on the crypto industry will break all past records!
Growing Attacks on Cryptocurrency in 2021
During 2020, hacks on the cryptocurrency industry have already broken the previous records. There were around 32 recognized cases throughout that year, which is also one of the most scams ever done on the market. However, in 2021, by September, we have already recorded 32 cases of fraud.
And with months still remaining, it is being expected that this year the number of cyberattacks will break all previous limits. The estimated number of hacks and frauds is 38. It is observed that from 2017 the number of hacks has grown with every year. Furthermore, 2017 was the start of big heists in the crypto market. In 2016, the industry only experienced 5 cases, but by 2017 it grew to 21!
