The total amount of funds stolen in 2019 amounted to $283 million, compared to $875 million in 2018. However, the total number of attacks doubled to 11 in 2019, compared with 6 in 2018.

Despite the security updates of the exchanges, they remain extremely vulnerable to hackers.

The largest attack in 2019 occurred at Coinbene, in March hackers stole ERC-20 tokens from the hot wallet of the exchange for $105 million. At first, the exchange denied that it had been hacked, but later admitted what happened.

Also in 2019 hackers stole $49 million from South Korean exchange Upbit in November and $40 million from Binance in May.

In all three cases, the exchanges covered the losses suffered by their users and that’s very nice.

Stay tuned in our Telegram channel and Twitter.