Crypto Hacking Increases, IDR 5.6 Trillion Disappears In A Month

Not only is the price of Bitcoin increasing, crypto hacking has also increased. (Photo; Doc. Liberslav)

JAKARTA - The crypto market is an easy target for hackers who want to profit by cheating. According to a security company report and blockchain audit, Peckshield, in February saw 21 cryptocurrency hacker attacks that managed to steal around US$360.83 million (Rp 5.66 trillion). This amount is almost double the total loss due to hacker attacks in January.

One of the biggest attacks that occurred in February befell Playdapp, a popular crypto gaming platform. Hackers managed to print and steal millions of PLA dollars, cryptocurrencies used on the platform, using fake wallets. Allegedly, hackers gain access to private keys used to manage the PLA.

Not satisfied with that, hackers then scored more PLAs to reach 1.59 billion tokens worth 253.9 million US dollars (Rp 3.98 trillion). The total loss experienced by Playdapp as a result of this attack reached more than 290 million US dollars (Rp 4.55 trillion). Playdapp had offered hackers a 1 million (Rp 15.7 billion) reward to return the stolen funds, but there was no response. Hackers then cleared their tracks using various crypto money laundering platforms.

Another attack that rocked the crypto market was the one that attacked Fixedfloat, a crypto exchange that does not require user identity verification. The exchange lost nearly $26 million in bitcoin and ether form due to attacks that paralyzed its system. Fixedfloat hasn't provided an official explanation of this attack, but says they are ready to dialogue with the media to provide correct information.

The third attack that caught the eye was what targeted Jeff "Jihoz" Zirlin, co-founder of Axie Infinity, a crypto game that carries the play-to-earn concept. Zirlin lost nearly $10 million worth ether from a hacker hacked account. The stolen funds were then sent to Tornado Cash, a platform that can disguise the origin and purpose of crypto transactions.