This is how much money has been lost because of hacking

[IndigoRed]

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.

How do you think it can be solved though? Through a new blockchain software perhaps? Or an AI algorithm?

[djuragan]

Hacking really is painful things to experience, it cause so much casualties, But at the same time it also proven that the security on some market are still need to be secure even more, to avoid any future attack.

[sandos]

1 billion dollar for hacker. that's terrible. I won't how they can cash out all of that money. because even people on blockchain are anonymous but we still can tracking every transaction on it.

[Vishnu.Reang]

What you had posted is just the tip of the iceberg. From 2011 onward, there have been tens of thousands of hacking incidents and the total amount of Bitcoins which were lost may number in millions. On top of that huge amounts of fiat and altcoins were also stolen.

6 years back, another user had attempted to list all the major hacks and heists. You can find the thread here:

https://bitcointalk.org/index.php?topic=83794.0

[binhvo1505]

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

This is a news that makes many investors more nervous about the trading platform they are sending money there. We, investors have too many problems to solve. How to secure and keep our assets the best? How to invest effectively? How good is the strategy in the Crypto market? ... there is so much to deal with and the trading floors need to improve their security system better.

[Ondre]

I agree with the article. I believe it’s also the reason why we are looking forward to have better wallet and exchangers that will really protect our money and investments. Hoping also that this hackers will come to an end.

[Aaroenz0r]

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

This is a news that makes many investors more nervous about the trading platform they are sending money there. We, investors have too many problems to solve. How to secure and keep our assets the best? How to invest effectively? How good is the strategy in the Crypto market? ... there is so much to deal with and the trading floors need to improve their security system better.

at least mt. gox member can get their money back if you can prove they have bitcoin on this platform. you will get more than they lost

[Adalwolf]

of course the numbers are very limited. will depend on the amount of money you have in your wallet. and depending also hacker it will pick it up where. Therefore we must continue to be vigilant, do not get off guard.

[Tejas05]

Thank you for posting this article, very enlightening. As this article reads, best is to use hardware wallets and keep only what is needed to be traded in exchanges.

[h0lybyte]

It may happen with any exchange as they are not much secure as hardware wallets. Even (binance) one of the major platform in the market with multi authentication required exchange was attacked by hackers.
A trader must have a hardware wallet and only put the amount on exchange that he wants to trade regularly

[jimskiy]

Much money have lost by hecking, we can’t how many exchange have hecked and lost their money with billion usd. Maybe we can count how many exchange have hecked but we can’t count how much bitcoin and altcoin have lost.

[Chom_]

I think if our assets have been exchanged, there must be accountability from the exchange, but that is the risk of Crypto owners, for myself, I prefer to secure my digital assets in my personal wallet.

[futile-resistance]

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

I have always believed that there is absolutely no early days of a technology that will not have its fair share of some challenges one way or the other and it is a normal thing to see things like this happening. Protecting our assets however over the years is becoming something easy for those who have the knowledge on how to do so, what to do and what not to do as the case may be.

Most of the issues of a huge loss have been due to hack and we sure know this is the reason why paying attention to security has been something very important when it comes to the cryptocurrency sphere.

[chuvatil]

It's an amazing sum and seems like this sphere is at the beginning of the path and has a lot of ways of scamming.

[passwordnow]

That's a lot of money and people before aren't securing their coins because they are keeping it to exchanges.

But today's generation are learning from those past hacking incidents and are aware of the consequences of not protecting your own fund.

[shadowdio]

I just thinking is it really hacked? or just they excuses to get that a lot of money, but if really hacked then they should secure harder their exchange, that's quite a lot of money hacked.

[fasdorcas]

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?

Really scary indeed but this is something that should have been expected in a new technology with the hackers trying to make every attempt to always breach those securities.

I would not say the market would have been better since the hackers would have ended up finding a way to cash out eventually anyway, but all in all, as all these keeps happening, so are we going to see the securities improving as the case may be and then we will keep seeing a better space.

We have all known how security has been something that is of a huge concern even outside cryptocurrency over the years and for the fact that this is new, we should expect this.

[delton22]

hacking is a major challenge so many crypto users have been fraught with. So many exchanges needs to upgrade their security and users should be careful with their private keys and passwords. With these all in place, the number of hacking will definitely reduce

[IndigoRed]

Hacking really is painful things to experience, it cause so much casualties, But at the same time it also proven that the security on some market are still need to be secure even more, to avoid any future attack.

I agree. There’s still a lot of work to be done to improve security.  A major downside though is that society is losing trust in crypto
https://futurism.com/cryptocurrency-hacks-shaking-investors-faith-coinrail
How can we build trust amidst all these hacking situations?

[iconoclast]

As long as people insist on keeping their money on centralised exchanges they will be at risk of losing it to hackers. I have very little sympathy for people who lose money this way. If you are following proper security practices your money will be safe. Only keep your money in a wallet where only you have the keys. People need to start taking some personal responsibility.