Why Hackers Are Targeting the American Market
With rapid adoption, the cryptocurrency industry has witnessed a number of theft cases and scams. The market has hackers who are ready to strike whenever an opportunity arises. Crypto scams occur on a global scale.
However, the American market stands out. Data on crypto hacking and scams indicates that the American market is a top target. American investors seem to attract the attention of many hackers across the globe.
This is not a surprise considering that the American market has witnessed numerous attempted hacks on major exchanges. Many will expect hackers to target Asia, which is the largest crypto market.
Group-IB the Russian forensic firm, notes that network leaks in the US market is to blame for the attempted hacks. In comparison with the Asian market, the US has suffered many leaks. Additionally, American investors utilize American funds which is prone to attacks.
In January this year, 212 login information was tampered with within America. The figures represent an increase of 689% on a monthly average. However, the Russian firm did not provide more details on why hackers prefer the North American giant.
In also emerged that a majority of American exchanges don't have two-factor authentication on their accounts. They only utilize the primary passcodes. Such measures only make it easier for hackers carry out their mandate. It leaves many questions pending as to why such a big market like the US is not paying attention to security matters. Notably, Russia and China emerged second and third as an easy base for hackers.
Recently, Chinese authorities launched a crackdown on the crypto market something that scared hackers. Unless effective security measures are not put in place, cases of hacking are here to stay. Hackers will always be on their toes.