Cryptocurrency markets remain targets for hackers
Investors ‘ fragile confidence in cryptocurrency exchanges has been dealt another blow with South Korean Bithumb being the subject of a 35 billion won ($32 million) pilgrimage.
Bithumb became the second platform in South Korea to announce it had been hacked in weeks. Concerns about the security of cryptocurrency markets have risen.
Thefts in cryptocurrency markets-the majority of which are unsolved – with a total value of over $ 1 billion, are a growing problem of importance for investors who want to be participants.
Some of the major cryptocurrency thefts since 2012 are as follows::
South Korean stock exchange Coinrail says some digital coins have been stolen by hackers. Then cryptocurrencies lost $ 42 billion from their market value. Although Coinrail was relatively small, analysts said the news triggered reflex sales.
Japanese stock exchange Coincheck Inc., Reported a theft of $ 500 million. Then customers made a $ 540 million exit from the platform. Months later, the platform paid $ 35 million to Money Inc.’e sold.
Slovenia-based crypto mining market NiceHash announced on its Facebook page that its payment system had been seized and $ 63 million of bitcoin stolen. The company stepped up security in the aftermath and word konsuu sought help from the community about the incident.
Youbit announced it was filing for bankruptcy just hours after losing 17 percent of its assets in the cyber attack. Following the South Korean stock market’s “accident”in April, the company’s owner encouraged its customers to keep them in safer form. South Korean officials are investigating North Korea’s possible involvement in the hacking incident in question.
The deficit of a trust found in the pair wallet ended in a $ 155 million theft. The stolen coins include Ether.
The company behind Tether reported that a” villainous ” attacker stole $ 31 million worth of cryptocurrencies and transferred them to an unknown bitcoin account.
A group calling themselves the” White Hat Group ” took advantage of a crack in the pair Wallet software and attempted to launder $ 30 million of stolen ethers through plaforms.
Just minutes after CoinDash’s first cryptocurrency supply (ICO), hackers stole $ 6.6 million of Ether. The Israel-based company ended the sale of cryptocurrencies.
The personal computer of a contracted employee of Bithumb, which stored customer data, was hacked; the personal information and transaction information of over 30 thousand users was leaked. The South Korean stock market was fined 58.5 million won ($55k) by the local regulatory authority.
Bitfinex reported that hackers seized 119,756 bitcoins worth $ 65 million. The company announced a refund to all its customers in April 2017.
Venture capital fund Decentralized Autonomous Organization, hacked. A $ 50 million member contribution to the fund was stolen.
Hong Kong-based Gatecoin was the subject of $ 2 million worth of bitcoin and Ether theft in the wake of the cyber attack.
Fortune quoted Bitstamp’s CEO as telling customers that the bulk of Bitcoins are safe after the $ 5 million cryptocurrency was stolen.
Formerly the world’s largest bitcoin exchange, Mt. Gox reported that $ 480 million worth of cryptocurrencies went missing. The company has sought bankruptcy in Japan and the US, and said the disappearance of the cryptocurrencies was likely the result of a “wide-ranging theft.”
New York-based BitFloor has lost $ 250k of Bitcoin in the wake of its hacking. Bitcoin Magazine reported that the platform would close months later in April 2013 and return customer deposits.