Most notable and costly cryptocurrency hacks and scams 

Crypto Aware, a community-focused initiative reporting crypto-related scams, has published a curated list of the most notable Bitcoin and altcoins hacks ever reported.

According the report:

“Since the inception of Bitcoin in 2009, the development of cryptocurrencies and blockchain technologies have certainly experienced a unique set of challenges. Due to the blockchain’s unique characteristics of being anonymous, immutable and decentralized, hackers have shown a high level of interest in cryptocurrencies ever since its early days.

This interest in Bitcoin and other altcoins significantly increased in 2011 when, for the first time ever, the price per Bitcoin rose above $10, proving its growth potential and the possibility of a real-world adoption.

The growth of the Bitcoin-related community such as the Bitcoin forum, also developed in 2011, marked the beginning of increased public reporting of Bitcoin and other cryptocurrency scams and hacks.

Below, you can find our curated list of the most notable Bitcoin and altcoins hacks ever reported. We will continue to actively curate this list to expose the magnitude of harm cryptocurrency hacks have on the crypto community as a whole.

This list is by no means comprehensive for all of the losses related to cryptocurrency hacks and scams. Actually, most of the scams and frauds related to cryptocurrencies occur much more frequently to individuals in smaller quantities, which often go unreported. This is one of many reasons why we also created Crypto Aware, as well as established the First Responder Network to help record and combat crypto-related scams and frauds.

The future success of cryptocurrencies and blockchain-related technologies resides in benefiting and contributing to the well-being of its users, please consider helping us in the battle to keeping our crypto-community safer and free of scams and hacks.

The Increasingly Frequent Attacks On The Crypto Community

2018 is on track to becoming the worst year of crypto losses in terms of assets stolen. So far, just in the first half of the year alone, the reported loss has grown to over $1.73 Billion USD. That is more than any other 6 months period in crypto history and more than half of total recorded loss since 2011. We have also witnessed significant attacks on altcoins in the past year. Below are some of the highlights from our curated loss data. Please note that all USD estimated value is based on average market value at the time of the event.

• Biggest Bitcoin hack: Mt Gox. Around 800,000 BTC, equivalent of $450 million USD at time of event was lost.
• Biggest Ethereum hack: The DAO incident. About 3,600,000 ETH, equivalent of $60 million USD, was lost in this hack. This caused the eventual hard fork of the Ethereum blockchain.
• Most notable recent hack: Coincheck reported loss of 500,000,000 NEM, equivalent of $400 million USD. This event raised serious discussion regarding crypto exchange regulations.
• Company with most notable hacks recorded: Bitcoinica wins the spot with 3 recorded hacks, resulting in a total reported loss of over 78,000 BTC
• Estimated USD Loss From Top Hacks and Scams (2011-2018 YTD): ~ $2.3 Billion USD
• Estimated Crypto Loss From Top Hacks and Scams (2011-2018 YTD):

 

 

 

 

 

 

 

 

 

 

 

 

 

For more details click HERE

Source: Crypto Aware – Most Notable and Costly Cryptocurrency Hacks and Scams

---