Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Cryptocurrency Cryptocurrency hacking

Crypto hacking on the rise. (Photo by Jakub Porzycki/NurPhoto via Getty Images)

By Savannah Young Leaders Staff

Savannah Young

News Writer

Savannah Young is a news writer for Leaders Media. Previously, she was a digital reporter for WATE Channel 6 (ABC)...

Full bio


Learn about our editorial policy

Aug 25, 2022

Crypto Security Firms Are Thriving

Cryptocurrencies are rapidly rising in popularity, but so is hacking.

Key details
Cryptocurrencies are all the craze right now. Millions of people have money in the crypto market and it is now gaining popularity in the sports world with many celebrity endorsements. 

With the rise in popularity also comes the rise of hacking threats. Crypto security firms are finding themselves booked and busy to help protect cryptocurrencies from hackers. Roughly $2 billion has been stolen in crypto this year from hackers, according to researcher Chainalysis.

Despite cryptocurrencies experiencing a rough few months facing selloffs and layoffs, crypto security is booming and is boosting hiring and raising prices.

Why it’s news
When dealing with so much money in the crypto space security services are becoming a necessity, even for startup businesses. Investors are taking note of the growing demand for protection. Venture capital firms have poured $257 million into crypto auditing and security companies so far this year, up from $185 million for all of 2021, according to CB Insights. 

These crypto security businesses focus on searching through codes for weaknesses and making sure no bugs exist within the sites to ensure hackers can’t steal the cryptocurrencies. 

One major way hackers have been successful is with crypto bridges. A crypto bridge is something that allows a crypto coin developed for one blockchain to be used on a different one. Hacks on crypto bridges accounted for more than two-thirds of the total value stolen in the first seven months of 2022, says Chainalysis. 

In March, $600 million worth of cryptocurrencies were stolen by hackers from the Ronin Bridge connected to a popular online game called Axie Infinity. Sky Mavis, the developer of Axie Infinity, was forced to compensate players who lost money, according to Barron’s.

With the rise of hackers in the industry, crypto security companies don’t seem to be slowing down in the near future.

Backing up a bitJune and July were brutal months for cryptocurrencies. Bitcoin dropped 37.3% in June alone, giving it the largest fall since 2011. The major sell-off led to job cuts in many crypto companies and even forced some lenders to pause withdrawals. Nevertheless, Bitcoin And other cryptocurrencies are on the rise and looks to be staying that way.

Home / News / Crypto Security Firms Are Thriving
Share
FacebookTweetEmailLinkedIn

Related Stories

Parent’s Wealth Tip The Scales In SAT Scores and College Admissions

by PJ Howland Leaders Staff
Wealth

Oct 25, 2023

Parent's wealth tips the scales for SAT numbers

New data shows a strong correlation between family income and SAT scores, indicating the exam may act as a “wealth test” that advantages higher-income students.

Key Details

  • Students from wealthier families tend to score higher on the SAT than lower-income peers due to advantages like well-funded schools, tutors, and extracurricular activities.
  • The pandemic has exacerbated SAT score disparities, with average scores dropping the most among disadvantaged groups.
  • Addressing the gap requires increased funding for lower-income school districts and expanding access to test prep resources.
  • Children from the top 1% of families are twice as likely to attend an Ivy-Plus college (Ivy League, Stanford, MIT, Duke, and Chicago) compared to middle-class families with similar SAT/ACT scores.

Go deeper

FacebookTweetEmailLinkedIn

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn
Chevron Gas Deal
Markets

Oct 23, 2023

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com