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Crypto Trader Lose $44 billion in 12 Months Over Cyber Attack

Tech Security
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Due to cyber attacks, it has been reported that crypto platforms have lost about $44 billion between June 2021 and June 2022 as confirmed by Acronis Cyber Protection Operation Centers, a global leader in cyber protection. The Acronis further revealed the new cyber threat trend that cybercriminals use focusing more on cryptocurrencies and DeFi platforms.

It was stated that the mode of operation, is that these cyber attacks were set off by exploiting flaws in smart contracts or using malware and phishing attacks to steal personal information as password and recovery phase. Also, ransomware has continued to be the number one threat to large and medium-sized businesses, not excluding government organizations.

An anti-virus firm Kaspersky issued a software warning on the activity of malware across the world, reporting that over 551,000 users of the MS Office applications had witnessed attacks in the second quarter of 2022. The attack is solely for the purpose of gaining control over victims' computers to view, change, or delete data without their consent through malicious code.

Acronis had warned users over the growth and menace of phishing, malicious email and websites as well as malware, with about 600 malicious campaigns across the internet in the first half of 2022.