While there is imminent danger hovering over every legitimate business and though howsoever the combined efforts have been put in by world businesses individually or collectively, still the hackers are able to steal funds from the owners. Similarly, the world of cryptocurrency is also not safe from the attacks of hackers.
According to Mr. Alon Gal, who is the Chief Technology Officer at Hudson Rock, which is a cyber intelligence agency, has apprised the Motherboard of Vice Magazine that for a long time he has been keeping an eye on a notoriously popular website called RaidForums which is known for housing a huge number of hackers. He said that a hot wallet worth over US$ 700 Million Bitcoin is a hot subject of conversation amongst the visitors of the website. He was of the view that the hackers from all over the world have already made up their nefarious plan to hack into the wallet and loot all the crypto-assets lying therein.
It is believed that the hot wallet is one of the most highly valuable crypto asset wallet and that the owner of the wallet should be informed that the address of his wallet has been shared with many online forums and in order to avoid any potential loss, he should need to take appropriate steps to ensure the safety of BTC 69,370 lying within the wallet.
While speaking to the Magazine Gal further stated that stealing from crypto-wallets is an increasingly popular mode of stealing money amongst cybercriminals these days and once the password for accessing the wallet is compromised then these culprits immediately sell the assets to opportunistic hash crackers who in turn empowered with a high amount of graphics processing unit (GPU).
Gal added that there might be a chance that many attempts to break into the wallet have already been made but so far the wallet luckily remains safe.
On the other hand according to Coin Metrics, which is involved in providing crypto base analysis and research published a paper at the end of the year 2019, at least 1.5 Million BTC was supposedly lost due to block 600,000 within the blockchain of Bitcoin.