Searching for Safe Exchange for Your Bitcoins? BEST Cryptocurrency Theft Hacks (Infographics)
In order of giving you an idea of how much has gone into the pockets of thieves and hackers, Nexter.org has made an infographics showing the biggest hacked exchanges from 2014 and till now.
Whom to trust?
The price of bitcoin took a tumble early Wednesday after a major South Korea-based cryptocurrency exchange, Bithumb, admitted hackers made off with more than $31 million worth of virtual currency. The incident is the latest in a long string of thefts at the online portals where investors trade cash for digital coins such as bitcoin and ether. Bithumb has not said how the attack occurred.
Cryptocurrency experts blame lax security at the hacked exchanges, as well as the booming popularity of digital currencies more generally.
The rising value of cryptocurrencies has attracted both investors and thieves in equal measures. Many people have lost their coins to thieves and hackers, with the figure amounting to millions of dollars.
According to CoinGecko, a whopping $606 million worth of cryptocurrencies have been lost so far, with most of these losses happening through exchanges.
“Bitcoin and other cryptocurrencies have risen dramatically in popularity and value over the past few years,” said John Sedunov, an assistant professor of finance at Villanova University. “This fast run-up may have caught some exchanges off-guard, and they may not have had the capital on hand, time, or even the technical ability to ramp up security features fast enough to ward off potential attackers.”
Here is the list of cryptocurrency exchange hacks that may help you understands what exchanges are surely not safe enough:
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