Attacks on Cryptocurrency Exchanges

This post has been written jointly with Álvaro Moreno.

Cryptocurrencies have grown so much in recent years in terms of economic volume and relevance that they have become an important target for cybercriminals. Given that exchanges, platforms where users can buy and sell these cryptocurrencies, bring together a large number of transactions and users of these assets, they have become an important target for cybercriminals, who seek to get as much money as possible by exploiting their vulnerabilities.

In this article we will cover some of the most recent attacks on these Exchange platforms and conclude with a table on other major attacks on cryptocurrency exchanges.

On January 17, 2022, the Exchange platform  discovered that a small number of users were making unauthorized withdrawals of cryptocurrencies from their accounts worth approximately 4800 ETH and 440 BTC, plus about $66,200 in other currencies.

The response from the platform was to suspend withdrawals of any tokens while an investigation was conducted. In the end, no customers of the platform suffered any loss of funds, as the 483 affected users received a full refund.

[Read more…]