Hackers are now attacking blockchains, according to Chainalysis, with $2bn of cryptocurrencies stolen since the beginning of 2017. Analytics company MIT said two groups of hackers could have been behind half of the thefts. Attacks have either been made on the blockchains themselves or on crypto exchanges. Blockchains are believed to attract criminals because transactions cannot be reversed as they can in conventional finance. Also, blockchain bugs cannot be fixed with a patch as they can be in traditional software. Several companies are now working on fixes, including using AI to detect suspicious activity and find vulnerabilities in smart contracts.
Hackers are now attacking blockchains, according to MIT, with $2bn of cryptocurrencies stolen since the beginning of 2017. Analytics company Chainalysis said two groups of hackers could have been behind half of the thefts. Attacks have either been made on the blockchains themselves or on crypto exchanges. Blockchains are believed to attract criminals because transactions cannot be reversed as they can in conventional finance. Also, blockchain bugs cannot be fixed with a patch as they can be in traditional software. Several companies are now working on fixes, including using AI to detect suspicious activity and find vulnerabilities in smart contracts.