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Despite the significant growth of Bitcoin and other cryptocurrency prices in 2020, the amount of stolen cryptocurrency as a result of hacks is actually less than in 2019. According to a Ciphertrace report, the total amount of stolen funds equaled an estimated $468 million.
Most of the attacks in 2020 were made on DeFi projects, which speaks to the immaturity of this fast-growing segment. Nevertheless, the number of stolen cryptocurrencies from centralized services are still much higher. For example, as a result of the Kucoin hack, cryptocurrency was stolen in the equivalent of $275 million. DeFi hacks make up roughly 21% of the 2020 cryptocurrency hack and theft volume.
Nevertheless, hackers attack not just cryptocurrency platforms but also users. Every day, stories are published on the internet about how hackers stole a user’s cryptocurrency by gaining access to their wallet or exchange account. Some users have no idea how high the risk of