Hack

Australia passes the first sentence related to cryptocurrency theft, proving that law enforcement is gearing up to govern the digital currency and blockchain industry.

On July 31, the architect of the infamous Twitter hack was arrested by the US police. It is a 17-year-old teenager from Florida with a good track record of other scams.

The ongoing wave of hacks and attacks affects the operation of many companies in the cryptocurrency field. One of the biggest hardware wallet manufacturers Ledger has recently suffered a hack that led to losing about a million emails as well as other customer information.

Twitter attackers have been laundering stolen funds via gambling websites and peer-to-peer marketplaces, leaving a handle that links them to one of North Korea’s hacker groups.

After the notorious Twitter hack that took place on July 15, 2020, some cryptocurrency exchanges blocked suspicious wallet addresses thus saving their users' funds from thieves.

As the community was astounded by the bold hack of prominent Twitter accounts, it revealed the general vulnerability of centralised social media, where all information is kept at one place. It would not be possible to break a decentralized platform that easily.

Since the inception of bitcoin, cryptocurrency exchanges have been a major target of attack compared to other traditional financial institutions such as banks. As cryptocurrency platforms tighten cybersecurity, hackers find new cracks in the wall.

The University of California had to pay a $1 million ransom to regain access to the research performed at their Medical School. The incident has proven the healthcare industry is still vulnerable to hacker attacks.

Protecting gadgets, networks and information from clever hackers has been a critical issue since the very appearance of digital technologies. Now, when the pandemic of COVID-19 forced entire countries to isolate themselves, the industry became even more vulnerable, thus showing the need for new solutions.