Match Systems is a cybersecurity company specializing in AML services, blockchain investigations, implementation of compliance procedures for cryptocurrency projects around the world.
We provide unique information about cryptocurrency addresses involved in illegal activities. Thus, we protect the participants of crypto market from blockages and losses asset.
SafeMoon was exploited in March after a smart contract update led to a burn call vulnerability allowing hackers to transfer funds.
Security specialists have discovered ties between a person on Telegram and cryptocurrency laundering activities connected to prominent exchange heists. The person in question is suspected of selling unlawfully obtained...
Being the world’s biggest crypto payments provider, it was essential for us to conduct a thorough investigation of the hacker attack of July 22nd, 2023, resulting in the theft of 37.3M USD.
Predicting cybersecurity trends in the cryptocurrency space for 2024 is a highly challenging task, as cyber threats are constantly evolving, making it difficult to accurately forecast their actions.
However, we can identify key trends that appear relevant for the upcoming year:
1. The creation of new and the complication of existing money laundering schemes through cryptocurrency mixers, decentralized exchanges (DEX), anonymous cryptocurrencies, bridges, and other services (including some centralized exchanges or CEX that may neglect Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures) will make it challenging to trace the movement of stolen funds for subsequent blocking.
2 Utilization of Lesser-Known Blockchains: Hackers may increasingly use less popular blockchains for laundering stolen cryptocurrency assets due to the expanding number of supported blockchains by cryptocurrency analytics tools.
3. Continued Popularity of DEX: The popularity of decentralized exchanges (DEX), which often operate without AML and KYC, may persist for laundering stolen funds, given the lack of proper regulation in this industry by regulators.
4. The active utilization of artificial intelligence (AI) technologies in the realm of cybersecurity, which presents a dual challenge. On one hand, companies can employ AI to enhance their security systems and prevent cyber threats. On the other hand, hackers may also leverage these technologies to identify new vulnerabilities and devise more sophisticated attacks.
5. Rising Use of Social Engineering: Hackers may engage more actively in social engineering tactics instead of traditional methods of exploiting technical vulnerabilities. This shift is due to a significant improvement in the overall security infrastructure of cryptocurrency services.
As a result of the above, we anticipate a further increase in the number of hacking attacks on various cryptocurrency services and exchanges in 2024. However, considering the experience gained in previous years and the overall enhancement of cybersecurity in cryptocurrency-related companies (through the implementation of multi-factor authentication (MFA), regular software updates, ongoing staff training, the introduction of monitoring and threat detection systems, and other tools), a significant part of hacking attempts can be successfully thwarted.
Groups of hackers who meticulously prepared attacks both in terms of social engineering and technical execution deserve special attention. Their level of preparation was at a jeweler's precision. As a result of their activities in the summer and fall of 2023, the largest cryptocurrency services and exchanges, such as Stake, CoinsPaid, CoinEx, Poloniex, and others, were breached, resulting in losses amounting to dozens of millions of dollars. We anticipate that in 2024, these criminal groups may carry out attacks on other yet unaffected top cryptocurrency services.