One Article Review
| Source |  Mandiant |
|---|---|
| Identifiant | 8640656 |
| Date de publication | 2025-01-21 14:00:00 (vue: 2025-01-21 16:18:01) |
| Titre | Securing Cryptocurrency Organizations |
| Texte | Written by: Joshua Goddard
The Rise of Crypto Heists and the Challenges in Preventing Them Cryptocurrency crime encompasses a wide range of illegal activities, from theft and hacking to fraud, money laundering, and even terrorist financing, all exploiting the unique characteristics of digital currencies. Cryptocurrency heists, specifically, refer to the large-scale theft of cryptocurrencies or digital assets through unauthorized access, exploitation, or deception. Cryptocurrency heists are on the rise due to the lucrative nature of their rewards, the challenges associated with attribution to malicious actors, and the opportunities presented by nascent familiarity with cryptocurrency and Web3 technologies among many organizations. Cofense highlighted that phishing activity targeting Web3 platforms increased by 482% in 2022, Chainalysis reported that $24.2 billion USD was received by illicit addresses in 2023, and Immunefi reported that in Q2 2024, compromises of Web3 organizations resulted in losses of approximately $572 million USD. When threat actors gain access to cryptocurrency organizations, the potential for rapid, high-value financial losses due to unauthorized access is significantly elevated. A single malicious command executed on a vulnerable system can lead to the theft of millions of dollars worth of assets. This starkly contrasts with traditional organizations, where achieving financial gain or extracting value from stolen data often requires prolonged social engineering campaigns, all while facing the risk of detection and apprehension by law enforcement or financial institutions. The prospect of swift and substantial financial gains presents a compelling motivation for threat actors to target cryptocurrency organizations. Cryptocurrency organizations are those whose core operations revolve around the use, management, or exchange of digital currencies, including: Cryptocurrency exchanges that facilitate the buying and selling of cryptocurrencies Financial institutions or payment gateway platforms that provide on or off ramp buying and selling of cryptocurrencies Financial institutions that hold cryptocurrency assets as investment products for their customers DeFi protocol providers that provide financial solutions for interacting with cryptocurrency assets Web3 game creators that use blockchains for their in-game economics Providers of hardware or software cryptocurrency wallets, wallet custodians, and wallet smart contract providers, which facilitate storage solutions for cryptocurrency assets Cryptocurrency mining organizations, which validate transactions to generate |
| Notes | ★★★ |
| Envoyé | Oui |
| Condensat | $200 $24 $572 2022 2023 2024 482 |
| Tags | Malware Tool Vulnerability Threat Studies Legislation Cloud Technical Commercial |
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