The top-5 biggest cryptocurrency heists ever
The cryptocurrency space has unfortunately seen several notable heists throughout its history. Here are five of the biggest cryptocurrency heists to date:
1. Mt. Gox: The Mt. Gox exchange, based in Japan, was once the largest Bitcoin exchange in the world. In 2014, it filed for bankruptcy after losing approximately 850,000 Bitcoins, which were worth around $450 million at that time. The exact cause of the loss remains a topic of debate and speculation.
2. Coincheck: In January 2018, the Japanese exchange Coincheck experienced a major security breach. Hackers stole approximately 523 million NEM coins, worth around $534 million at the time. It was one of the largest cryptocurrency heists in terms of the monetary value stolen.
3. Bitfinex: In August 2016, the Hong Kong-based exchange Bitfinex suffered a security breach resulting in the theft of approximately 120,000 Bitcoins, valued at around $72 million at the time. To compensate the affected users, Bitfinex issued BFX tokens, which were later redeemed or converted into equity in the company.
4. Coinrail: South Korean cryptocurrency exchange Coinrail was hacked in June 2018, resulting in the theft of various cryptocurrencies, including tokens like Pundi X and Aston. The total value of the stolen assets was estimated to be around $40 million at the time of the incident.
5. Poly Network: In August 2021, the decentralized finance (DeFi) platform Poly Network suffered a significant security breach. The hackers exploited a vulnerability and managed to steal various cryptocurrencies, including Ethereum, Binance Coin, and other tokens. The total value of the stolen assets initially amounted to around $610 million, but the majority of the funds were later returned due to cooperation between the Poly Network team and the hackers.
It's worth noting that the cryptocurrency space is constantly evolving, and new security measures are being developed to prevent such incidents. However, these examples highlight the importance of security awareness and caution when dealing with cryptocurrencies.
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