This is how much money has been lost because of hacking

[IndigoRed]

The numbers are quite alarming. According to this Forbes article, while the number fluctuates based on the market price and the published amount at the author’s time of writing, these are the quoted amounts that have been lost due to hacks as well as human error.

DAO - $53 million
Bitfinex - $72 million
Parity - $30 million + $275 million
Mt. Gox $460 million
Coincheck $530 million

That’s over $1 billion that has been lost! Obviously, cryptocurrency is giving us specific challenges around protecting our assets. At the same time, this gives us the opportunity to push the limits of this technology in order to elevate our lives, right? What are your thoughts about this news?

https://www.forbes.com/sites/forbesagencycouncil/2018/09/27/cryptocurrency-how-to-avoid-getting-hacked/#184495a14692

[Altcoins4Life]

I agree with this report.  This is why I have 2 hardware wallets.  People need to remember that this is crypto and that some people will do anything to get it, so practice precaution when investing, trading, buying, or selling crypto.

[CreamIce]

Well, the risk of losing your investment is always higher in crypto market.
1. It's volatile and unpredicatable.
2. The most scary part, hacking.

Since its digitized and the layman doesn't understand the nuances of this technology, they mostly make mistakes and lose their savings to hackers.
There are various ways to protect yourself though,
Using strong passwords, creating crypto specific id's, using several wallets.

These are some recommended precautions you must take apart from general awareness about hacking.

[Omela44]

Really scary how much money was stolen by hacks. I never knew it was so much money that was lost. What would the crypto market look like today if these funds were not stolen? Certainly better than at present, or would it have changed anything?

[shinratensei_]

The numbers are quite alarming. According to this Forbes article, while the number fluctuates based on the market price and the published amount at the author’s time of writing, these are the quoted amounts that have been lost due to hacks as well as human error.

DAO - $53 million
Bitfinex - $72 million
Parity - $30 million + $275 million
Mt. Gox $460 million
Coincheck $530 million

That’s over $1 billion that has been lost! Obviously, cryptocurrency is giving us specific challenges around protecting our assets. At the same time, this gives us the opportunity to push the limits of this technology in order to elevate our lives, right? What are your thoughts about this news?

https://www.forbes.com/sites/forbesagencycouncil/2018/09/27/cryptocurrency-how-to-avoid-getting-hacked/#184495a14692

Remember they are all exchange sites and then it will be so difficult to manage a lot of assets at the same time dude. Look at them all and how the majority of these exchange site has been doing a lot of efforts to secure their asset. But they can't. There was a lot of hackers and they are always trying to exploit the site.

[waser12]

This numbers are frightening. Looking at them we should remember about our crypto safety and accuracy.

[Rameshvijay45]

The numbers are quite alarming. According to this Forbes article, while the number fluctuates based on the market price and the published amount at the author’s time of writing, these are the quoted amounts that have been lost due to hacks as well as human error.

DAO - $53 million
Bitfinex - $72 million
Parity - $30 million + $275 million
Mt. Gox $460 million
Coincheck $530 million

That’s over $1 billion that has been lost! Obviously, cryptocurrency is giving us specific challenges around protecting our assets. At the same time, this gives us the opportunity to push the limits of this technology in order to elevate our lives, right? What are your thoughts about this news?

https://www.forbes.com/sites/forbesagencycouncil/2018/09/27/cryptocurrency-how-to-avoid-getting-hacked/#184495a14692

Thanks for sharing the article I will readed and understand lot from that.

Oh my god its a big number of money.we need to be more safe and secure while making transaction,login etc..

[nianastasia62]

Keeping money in the Bank is also a risk ! I think what in the world was stolen a lot more money ! Keep crypto currencies in cold wallets and will not get you in trouble !

[KingDome]

That's why we really wanted to make a better and revolutionised exchange that never gonna be hacked so that the assets won't lost/

[prehisto]

The numbers are quite alarming. According to this Forbes article, while the number fluctuates based on the market price and the published amount at the author’s time of writing, these are the quoted amounts that have been lost due to hacks as well as human error.

DAO - $53 million
Bitfinex - $72 million
Parity - $30 million + $275 million
Mt. Gox $460 million
Coincheck $530 million

It seems that this quote has only the biggest hacks, I can recall many more hacks . I found it very interesting that such big exchnages are not working harder on their security measures. Also maybe this will stop slowly when we are going towards decentralized exchanges.

And what about how much money is lost because of telegram an twitter scams and scam ICOs..

[hunnykaushal]

This is big amount , is not there any way to find hackers ??

[mrhood]

Unfortunately thefts are becoming so popular in crypto but I believe that it will be solved soon because losses are great and patience of people is close to the end.

[ShowOffoN]

There is always a risk involved in any investments besides, even banks have a lot of frauds going on over the history. What we need is a highly advanced technology that can detect any security risk. AIs maybe? We may not notice it, but almost everything that we do now goes through AIs. Not the robot kind of thing but in the form of chips or something.

[Olatunjex]

Altogether that is a big amount theft from hacking, security must be improved to gain confidence of potential future investors, developer should think of a way to stop hacking.

[Noobaru]

According to all the wealth in the world, not much. But in crypto space, that is actually quite a lot and it is sad that nothing could be done to prevent that. People indeed lost a lot of money this way. Exchanges should definitely strengthen their security measures, but won't tell people not to hold money on exchange accounts. That's for sure. Because holding a lot of assets on the exchange is the worst thing to do.

[IndigoRed]

It’s scary, isn’t it? Especially with current news about the data breach in Facebook. Cyberspace needs more security than ever, and we need to take extra precautions. Do you think blockchain or AI can solve this though?

[limmousine]

fantastic, indeed the value is very large and also worries everyone. but we must remember that crimes like this also occur in all fields of any financial industry, see how much money is lost from banks, hacking, robbery and even the most sad is the conspiracy to commit corruption together. I think this is bigger and more worrying than what happened in crypto and they must know that crypto is the answer or solution to solve such problems.

[Way2Paradise]

It’s scary, isn’t it? Especially with current news about the data breach in Facebook. Cyberspace needs more security than ever, and we need to take extra precautions. Do you think blockchain or AI can solve this though?

yes, it is scary. hacks currently seem to be cryptos biggest problem. these hacks have certainly driven many people out of the crypt world. it would be nice if a solution was found soon. whether a blockchain could solve the problem it would be very good, but i am not sure if that is possible. maybe with ai, but i do not know enough about that.

[Agozyen]

I agree with this report.  This is why I have 2 hardware wallets.  People need to remember that this is crypto and that some people will do anything to get it, so practice precaution when investing, trading, buying, or selling crypto.

There is no central authority that will guarantee your crypto, so it is only as secure as your private keys.  Keep them safe and secure and have backups.  If you lose your keys you lose your funds.  I cannot stress this enough.

[IndigoRed]

Really scary how much money was stolen by hacks. I never knew it was so much money that was lost. What would the crypto market look like today if these funds were not stolen? Certainly better than at present, or would it have changed anything?

I was incredibly surprised with the numbers too. I  do believe things would be different if these funds were not stolen. There could be more trust with cryptocurrency in general, which is good for the stability of prices. But if there could be a silver lining to this, it’s the fact that we’re made aware of how serious hacking really is and how we should really be careful. And maybe this could be a wakeup call for technology to develop better security features. Do you agree?