Thought everything was stolen... Cryptocurrency Dark Web Hacking Crisis, Turns Out to Be Exaggerated Fear?

▲ Cryptocurrency Hacking, Security/AI Generated Image

As major hacking claims raised on the dark web are successively denied, the analysis that the 'security fear' surrounding the cryptocurrency market has been exaggerated is gaining traction.

According to crypto media outlet Benzinga on May 3 (local time), recent large-scale data breach claims circulating on the dark web are turning out to be cases of re-processing public data rather than actual hacks. While some hackers claimed to have stolen hundreds of thousands of user information records, the explanation is that this data was information publicly accessible to anyone through blockchain and public APIs.

Polymarket, the prediction market platform at the center of the controversy, completely denied the hacking claims, stating that “the data appearing to be leaked is already public information.” In fact, the data was collectable from on-chain records and public APIs, and no internal system breach was confirmed.

Security experts also made similar judgments. Some researchers characterized this incident as a ‘case of packaging data scraping as hacking,’ pointing out that it differs in nature from an actual security breach.

Such cases illustrate a structure where the transparency of blockchain can actually lead to misunderstandings. Due to the nature of transaction records and user activities being public, collecting and reconstructing them can make it appear as if internal data has been leaked.

Ultimately, the recently widespread dark web hacking fear is being evaluated as largely exaggerated compared to actual system breaches, and the market is gradually moving away from excessive anxiety.

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