![]() Luckily, Bitpoint was able to recover $2.3 million of the stolen crypto from overseas exchanges. Thanks to a security breach, hackers made off with over $30 million worth of cryptocurrency. July – Bitpoint – 1,225 BTC, 11,169 ETH, 1,985 BCH, 5,108 LTC & over 28 million XRPĪfter noticing an error in its outgoing funds transfer system, Japanese exchange Bitpoint immediately suspended its services. It’s unclear if any of the projects accepted the offer or not. ![]() In response, VinDAX emailed the projects that had been impacted by the theft asking for funds. Hackers don’t care about the size of the exchange, they just care about the money and they managed to steal half a million dollars worth of crypto from VinDAX. November – VinDAX – $500,000 Worth of Cryptocurrencyīased in Vietnam, VinDAX is a relatively small crypto exchange that mainly conducts token sales for relatively unknown blockchain projects. As of January 2020, Upbit has completed a major security update after a brief suspension of services. Whoever took it has been moving it between wallets, although it is unclear what purpose this will serve. Thankfully, Upbit promised to cover the losses. Rumors swirled that this was an inside job, as the stolen crypto had allegedly been taken from Upbit’s cold wallet. South Korean exchange suffered a massive breach when hackers made off with 342,000 ETH (valued at $51 million at the time of the hack). Approximately $70,000 worth of cryptocurrency was stolen. Hacking group Lulzsec has claimed that they are responsible for the hack, though it is still unclear how they managed to pull it off. After some more thorough research, it appears Altsbit only lost under half of the crypto it was storing.Īltsbit has announced that it only has enough funds to issue partial refunds, and that they will be closing their doors in May 2020. Initially, the exchange announced the hack stating that almost all funds had been stolen. Italian cryptocurrency Altsbit had only been around for a few months before it was hacked. We’ve compiled a comprehensive list of cryptocurrency exchange hacks – you’ll be amazed at how much has been stolen over the years. As cryptocurrency and exchanges remain largely unregulated, it is unclear as to who has jurisdiction over cryptocurrency markets. The unfortunate reality is that more exchanges are hacked every year. One would hope that as time goes on cryptocurrency exchanges would become more secure. In total, $292,665,886 worth of cryptocurrency and 510,000 user logins were stolen from crypto exchanges in 2019. That being said, across the board the amounts of crypto stolen were worth less. State of the industry – February 2020: As it stands, 2019 saw a record number of twelve crypto exchanges being hacked. While cryptocurrencies themselves are very secure, exchanges can be affected by a variety of vulnerabilities, making them a prime target for malicious actors. Cryptocurrency exchanges come and go, and it’s almost inevitable that an exchange will get hacked at one point or another.
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