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Due to “Bitcoin security seems to be improving”, the number of reported stolen BTC dropped by 92%

The number of stolen bitcoins publicly reported in 2020 has dropped to 4,472 coins, accounting for 0.02% of the digital asset circulation. This new number is 92% lower than the 56,870 reported in 2019. Using current Bitcoin prices, the loss caused by the theft in 2020 is equivalent to $140 million, compared to $1.78 billion in 2019.

According to data shared by Jameson Lopp, the chief technology officer of Casa, the number of reported thefts has decreased significantly, which means that “Bitcoin security seems to be improving.” The CTO also clarified the meaning of the term “stolen” based on the reported BTC theft. .In answering this question, Loop Say:

I would say that the stolen is: one day, you go to check your wallet and the funds no longer exist. I would count on viruses that steal private keys. Since this type of theft is relatively small and cannot get news coverage, it is more difficult to aggregate these types of theft.

At the same time, data shared by the CTO showed that this is a dark web site Empire Market, which reportedly lost 2,638 gold coins, the biggest loss of the year. Kucoin was the victim of a major hacker and ranked second, with a total of 1,008 coins stolen. Other major losses reported include Cashaa (337), followed by Exmo (307), while Livecoin lost 106 BTC to criminals. The rest of the theft reports are below 100 coins.

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In addition, the data also shows that the lowest number of stolen coins reported in 2020, and 2014 was the worst year, with a total of 678,262 coins stolen before. Since 2014, except for 2016 and 2019, reported losses have been declining. In 2016, Bitfinex reported a loss of 119,756 bitcoins, while investors mainly in China lost more than 45,000 BTC due to the Plustoken Ponzi scam.

What is your opinion on the latest reported BTC theft? You can share your opinion in the comments section below.

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