5 Biggest Crypto Exchange Heists in History

[darylalban]

https://bitcoinist.com/top-5-biggest-crypto-exchange-heists-in-history/

I found this article interesting discussing how the recent Binance hack is 6th worst hack among 5 others that have happened in the history of BTC and crypto. According to Ciphertrace 2018 was the works year of exchange hacks comparatively to all other years maybe because of the bear market?

Were any of you affected? I can tell the general sentiment about exchanges... do you think matters are getting better or worse for crypto?

[teddyelwyn]

Luckily I was never affected by these exchange hacks but I do know people who were. I think the way Binance handled their recent attack was very responsible in comparison  to the others on the list. imo I feel that Binance is a great example for the rest of exchanges because of their third party compliance partners like ciphertrace and CZ talking about the importance of keeping your crypto off hot wallets

[fndsr]

cryptocurreny hacking, especially bitcoin does not look at years and dates or exchanges, it all depends on momentum and security loopholes, binance is a high-volume market, in handling this case, I think it is professional, binance does not close trades and only notifies via account The Twitter. binance is one example of a reliable and professional exchange

[pushups44]

https://bitcoinist.com/top-5-biggest-crypto-exchange-heists-in-history/

I found this article interesting discussing how the recent Binance hack is 6th worst hack among 5 others that have happened in the history of BTC and crypto. According to Ciphertrace 2018 was the works year of exchange hacks comparatively to all other years maybe because of the bear market?

Were any of you affected? I can tell the general sentiment about exchanges... do you think matters are getting better or worse for crypto?

The situation is neither better nor worse - these hacks happen with regularity. Once again, this is a reminder to use 2FA and keep cryptocurrencies off of exchanges when possible.

[YuginKadoya]

Do you think there is a conspiracy theory about this? Now many exchanges like this have been targeted by hackers I guess with this past issue they have already learned but it keeps on and on with just an explanation or sorry or  compensation to some victims but not with bitcoin but with some other unknown coins, I am starting to think that it might be some inside job or exchange doesn't really care about the security and purpose of exchange to traders lives, But maybe these kinds of heist was all just coincidental or again maybe not, That is what I am thinking right now.

[Ailmand]

I haven't been affected personally because I'm keeping my holdings on a hard wallet but I'm also sure that it has a negative effect on people these days. Some users have lost their trust in that exchange. Hackers now focus on hacking different exchanges but we should be smart enough to keep our holdings safe as investors and traders.

[Haunebu]

Lets see here. Exchanges have been hacked over the years and people have lost money. Doesn't any of this sound familiar op? Bank heists etc. Scammers will always try to scam wherever money is involved(Crypto or non-Crypto) which is why none of this is surprising to say the least.

It will get difficult for the hackers to hack exchanges with time due to advanced security measures and reduction in naive and gullible investors.

[traderethereum]

From that article, I only know Bitfinex which still online until now, but I don't use bitfinex like the other exchanges.
But I heard that Mt.Gox makes many people frustrated because they lost big money and they are suffered to recover their money.
I agree with that article that saying don't keep your funds on an exchange because that will be too risky and we don't know how they can protect their site from the attacker.
I don't get affected from the hack news, and my balance still save so far because I always tried to protect my account by activating the verification for withdrawing the funds.

[Micerker]

Why are we discussing unfortunate disasters in the market when pumps are on the market? Don't think about these things when we have everything, every investor is happy when the market starts to grow strongly. Don't discuss bad things because it can create FUD.

[okala]

There have been series of hack in the history of cryptocurrencies and it most times come from the exchange and the binance hack is the recent which have lead to pause in the withdrew and deposits features of the exchange, and with this recent rise all the crypto communities need to be careful.

[||bit]

Crypto exchange hacks (if they are really hacking not an inside job) are part of the crypto so far. But that article seems odd. I have never heard an exchange called zaif and they are fifth? Above binance and cryptopia?

Well after checking the article they were Japanese exchange which tells why i am not aware of them. But still, cryptopia lost all of its ethereum and %15 of their binance. I think that would be higher than 60m $.

[Genemind]

There were lots of hacking incidents in multiple exchanges and we can't deny the fact that people are quite losing their trust for exchanges. Despite of all the hacking incidents, Bitcoin still strikes high as well as some potential altcoins. It simply means thay people are still willing to transact despite of all the risks.

[akeegan]

https://bitcoinist.com/top-5-biggest-crypto-exchange-heists-in-history/

I found this article interesting discussing how the recent Binance hack is 6th worst hack among 5 others that have happened in the history of BTC and crypto. According to Ciphertrace 2018 was the works year of exchange hacks comparatively to all other years maybe because of the bear market?

Were any of you affected? I can tell the general sentiment about exchanges... do you think matters are getting better or worse for crypto?

The situation is neither better nor worse - these hacks happen with regularity. Once again, this is a reminder to use 2FA and keep cryptocurrencies off of exchanges when possible.

I read that the reason for the hack in part has to do with 2FA and we need something stronger like 3FA https://decryptmedia.com/6930/binance-hack-security-breach

[Adriano2010]

Bad that this happen, maybe some of hacks was inside jobs, i think we need video login when login to exchange to avoid hacks if hackers not take video from somewhere and login.

[akamit]

Well, I got affected when Cryptopia exchange hacked. Though the amount got stuck there is very low.

In reality when an exchange gets hack then it is a worse thing to be considered for crypto. Binance lost 7000 btc, you can weight how worse it is.

But what I believe when an exchange gets hack is that the exchange will increase their security level to next possible level. That's the good thing for future imo because hackers may invent new tactics over time.

[ololajulo]

Mt.Gox should be considered the biggest exchange hack in history if we consider the quantity of bitcoin stolen to value of bitcoin as of today. It is challenging that every top exchanges must go through this at a point in their service. Sometimes I like to think it might be sponsored from other exchanges that envied them but they will still need inside link, which is the most difficult thing to control.

[smartbitcoininvestor]

The main Bitcoin crypto exchange heist that I know of in history is Mt. Gox.

[sheenshane]

It is really an expensive lesson to learn for the CEO and the team of Binance. In the 40m, they have successfully identified their weak points and recognized it and solve it quickly. However, it would look like they paid a 40M to make their platform safeguard with the hackers.

Well, just like Amazon, if you have a big market volume, you will probably lose billions of billions of dollars for the failures and insecurities. But, at that point, you will identify our weaknesses and make it a long term strength.

[snowyNNN]

I believe most MtGox's stolen Bitcoin has been sold quietly over the years...

BUT  what is the state of the 120K BTC that was taken from Bitfinex in 2016?
Does anyone have info on those??

[xvids]

What if those hacks are actually an inside job?
What if those are just a show to create FUD?
Just imagine those exchange are making an insane amount of profit but they couldn't afford to upgrade their security?