The worst events in Crypto history

[Famous Grouse]

The worst events in Crypto history:
• Mt. Gox Hack ('14)
• The Dao Hack  ('16)
• Celsius collapse ('22)
• Terra Luna Collapse ('22)
• Binance hack fuds ('22)
• FTX files for bankruptcy ('22)
• 3AC Collapse ('22)
5 of the worst events in Crypto happened this year.
If you survived this year, you've earned your stripes.

[tbct_mt2]

More details in some topics

List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses
Bitcointalk history of hacks and vandalism.
[Updated] List of cryptocurrency exchange hacks
DeFi hacks [history]

From Bitcoin Historical corrections from all time highs you can search for shocking events around those big corrections.

[I794]

https://www.ltccasino.com/cryptocasino/ftx-collapse/

[crzy]

This is the reason why bear market are very strong for this year, because of so much bad incidents about hacking, and mishandling of the funds, what worst is that many loss a lot of money from this year because of those incidents. Other project might experience the same faith if they will do the same mistake, this year is not a good year for crypto, many loses their trust and faith with crypto, hopefully no more project to be on this kind of situation again.

[BitDane]

This is the reason why bear market are very strong for this year, because of so much bad incidents about hacking, and mishandling of the funds, what worst is that many loss a lot of money from this year because of those incidents. Other project might experience the same faith if they will do the same mistake, this year is not a good year for crypto, many loses their trust and faith with crypto, hopefully no more project to be on this kind of situation again.

Looking at the brighter side, I think this bad things will be converted to greater things.  Since there are five worse events happen this year, I have high hopes that Bitcoin will break the $100k barrier when it rally towards its ATH this coming bull market... I am just thinking and applying Newton's Third Law: Action & Reaction.

His third law states that for every action (force) in nature there is an equal and opposite reaction.

[CuriousGeorge]

You have been missing some biggest even too.

These events are

- Kucoin hack
- bitconnect the biggest ponzi in history
- axie hack

as far as i know that would be more that affected the crypto market but the incidents that i have mentioned above can also be considered as big incidents that ever happened in the crypto market. It seems like that this day the crypto company can collapse easily caused by there are so many scumbags in the project who doing shady things to the company's fund.

[Odusko]

This is the reason why bear market are very strong for this year, because of so much bad incidents about hacking, and mishandling of the funds, what worst is that many loss a lot of money from this year because of those incidents. Other project might experience the same faith if they will do the same mistake, this year is not a good year for crypto, many loses their trust and faith with crypto, hopefully no more project to be on this kind of situation again.

The bear market this year have been an artificial bear market, why I said artificial bear market is because of the incident behind it.
We saw Bitcoin and other currencies' prices fall sharply each time there is bad news coming from either scams or exchange hacks this has been the trend this has been the historical past and this has continued till this very moment. Hack incidents have cost a lot of panic and weak hands rushing to sell even if their assets are not stored in the exchange wallet but in a cold wallet.

[kelonmusk]

This year, almost all crypto prices have plummeted except for stable coins like busd or something like that. In my opinion, the most influential case is the FTX case. Maybe Tera Luna doesn't have much impact on other coins, especially BTC.

But it's different in the case of FTX. Starting from the hacking case at FTX, millions of dollars in members' funds disappeared instantly and now they are also being sued in US courts.

This raises issues that are not good for the cryptocurrency world. Hopefully a quick recovery.

[Dave1]

I think one that really stands out in the Mt. Gox hacked, I mean the impact that it has in the market till now. And I'm glad that I'm still not in crypto that time and probably could have lost money as well.

Nevertheless, the rest of the hacks or worst events, been there already and survived and didn't put a dent on my bitcoin holdings.

I guess, if we really seen and experience it, then we shouldn't say that crypto will be dead, we are going to survived this all together.

[codehtcmail]

You forget OneCoin and its 4 Billion that disappeared.

[evichi]

This year alone is probably the highest we have seen of the worst events in crypto history. Prior to these events, are also major events that have made crypto very popular, such as DeFi and NFTs, as a result, there are now many players in the cryptocurrency space when compared to previous years. While these events are quite regrettable, they are probably events that will help to shape the future of cryptocurrency as institutions, crypto experts and major players in the crypto space will take lessons that will usher in a more robust, safe and secure cryptocurrency space for the future. We must not ignore these lessons as it is critical to shape the future of crypto to become better.

[tbct_mt2]

I think one that really stands out in the Mt. Gox hacked, I mean the impact that it has in the market till now. And I'm glad that I'm still not in crypto that time and probably could have lost money as well.

Nevertheless, the rest of the hacks or worst events, been there already and survived and didn't put a dent on my bitcoin holdings.

We should recognize a fact that hacks are bad but sometimes if hacked exchanges are good and have strong treasury as well as good monthly income from user trading fees, they are able to do compensation for their users. If they can, they would be very ready to do this because it helps to save their exchange (not collapse) and even can increase their reputation and attract new users.

Worse things are collapse from Ponzi scheme because those collapses are more harmful. Their impacts are more widely and can touch to many related entities. Those collapses are not restricted to a single platform, company but many entities and people will be affected.

[ethereumhunter]

This should be a lesson for us not to keep many assets on the exchange because we can become the next target. Things like that could continue in the future because exchanges that can't protect their place of business are bound to become targets for hacking. Many other events are happening in the crypto market that we don't know about or haven't been raised to the surface so they don't spark public attention. And if we still want to use the exchange, we should only use the funds as necessary and save the other funds in other wallets.

[GEMIN_M4]

OP that list is incomplete.

Where is OneCoin and Bitconnect?

MT.Gox is the cruellest one of them all, I have a question for you guys

If all these scandals can be happening with centralised exchanges what do you think the banking system will be hiding?

These whole secrets of FTX shows that every centralised sectors and banks can't be trusted either.

This was the main reason why BTC was created by Nakamoto in the first place.

[borovichok]

This should be a lesson for us not to keep many assets on the exchange because we can become the next target. Things like that could continue in the future because exchanges that can't protect their place of business are bound to become targets for hacking. Many other events are happening in the crypto market that we don't know about or haven't been raised to the surface so they don't spark public attention. And if we still want to use the exchange, we should only use the funds as necessary and save the other funds in other wallets.

Enough bad events have happened to the crypto market and there's still more yet to come, we should always hope not to be victims of fraudulent stuffs that hits the market hard enough to make many people losses almost all their assets saved in exchange and coin. There's not a single exchange that's safe, hackers are not sleeping as they're implementing new methods everyday to make sure they invade or cause serious damage on exchanges. Security breach also affects the exchange as their top security measures are not strong enough and easy to crack by fraudy hackers who inturned change it to phishing messages sent to users who fall victims for it. Also, users should take safety measures to stay clear firmly from it. Exchanges hack can not be prevented, but can be reduced if the exchange users are highlighten on essential areas the fraudsters will focused on.

[cabron]

Bear market in crypto is like a covid lockup and recession combined where businesses close shops. And scammers are desperate enough like FTX is insolvent and as if using customers' funds is not enough. It still did one last attempt to bite by hacking itself.

Bitconnect?

Bitconnect can be funny at some point sad. I don't know but Carlos Matos shouting Wazzup always appears in my head every time. The people behind him don't even know how to react but hey hey hey!

[abel1337]

OP that list is incomplete.

Where is OneCoin and Bitconnect?

MT.Gox is the cruellest one of them all, I have a question for you guys

If all these scandals can be happening with centralised exchanges what do you think the banking system will be hiding?

These whole secrets of FTX shows that every centralised sectors and banks can't be trusted either.

This was the main reason why BTC was created by Nakamoto in the first place.

I don't know what is OneCoin but I know the popular bitconnect and I think it shouldn't be included in the list given that it is a scam or a ponzi at the first place. The ones on the list is financial institutions and exchange scandals that make crypto worst events. Bitconnect is just using crypto to gather funds for their ponzi scheme, It is just different. MT.Gox could be the cruelest one but some funds are recovered and the rest is just history compared to other events that happened where hackers still haven't get caught. Well, All off these events contributes and the could be the result of bear market.

[Morningstarr]

The bear market this year have been an artificial bear market, why I said artificial bear market is because of the incident behind it.
We saw Bitcoin and other currencies' prices fall sharply each time there is bad news coming from either scams or exchange hacks this has been the trend this has been the historical past and this has continued till this very moment. Hack incidents have cost a lot of panic and weak hands rushing to sell even if their assets are not stored in the exchange wallet but in a cold wallet.

You are right to a certain extent, especially about the hacking of exchanges, etc. But to say that the downward trend is artificial, according to my calculations, would be wrong because the beginning of this downward trend was not artificial at all. It was normal for Bitcoin to make a correction after ATH, but then the war between Russia and Ukraine and the deteriorating conditions of the global economy caused a further downturn, Which was normal, but we can say that what is happening since then that is, if we talk about the previous days, it was an artificial process.

[mathenye]

The worst events in Crypto history:
• Mt. Gox Hack ('14)
• The Dao Hack  ('16)
• Celsius collapse ('22)
• Terra Luna Collapse ('22)
• Binance hack fuds ('22)
• FTX files for bankruptcy ('22)
• 3AC Collapse ('22)
5 of the worst events in Crypto happened this year.
If you survived this year, you've earned your stripes.

I also feel very sorry for these things. This year's bear market has been a cold winter, and it has snowed a lot. Everyone inevitably encounters various problems. But I feel that it is still a good trend. Centralized exchanges have frequent problems, which means that the importance of decentralized exchanges is even more prominent. People's awareness and awareness are also gradually improving.

[dansus021]

well you actually see a lot event that happen in 2022 alone a bad event one, i have been reading for a while now call rekt.news

In the 22' alone maybe after hack and bankrupt customer lose all combine is more than 50 billion i thinks and this maybe not gonna stop here since all is will take as domino effect

but I hope the ftx will be the last and see green big candle in the next year