Let us discuss on hacked exchanges

[Charles-Tim]

There are many exchanges that has been hacked in the past, even a new exchange called Altsbit has been hacked this year and many cryptocurrencies  were stolen. During most hack, cryptocurrencies were stolen while few stole users login details. This makes exchanges even more vulnerable to hackers as they are now the primary aims of hackers. Even from the list, I was so surprised to see some of the giant exchanges to be there.

List of hacked exchanges from 2011

2020
   
        Date                   Exchange                    Amount stolen

September 26            KuCoin                      Bitcoin assets, ERC-20-based tokens, along with other types of tokens worth of $250 million
                                                                        and other tokens

September 08           Eterbase                    $3.9 million ether, $5.4 million in total

February                      Altsbit                       6,929 BTC, 23,210 ETH, 3,924,082 ARRR, 414,154 VRSC & 1,066 KMD


2019

November                    Upbit                         342,000 ETH

November                   VinDAX                      $500,000 Worth of Cryptocurrency

July                              Bitpoint                      1,225 BTC, 11,169 ETH, 1,985 BCH, 5,108 LTC & over 28 million XRP

June                              Bitrue                        9.3 Million XRP & 2.5 Million ADA

June                            GateHub                    23,200,000 XRP

May                              Binance                     7,000 BTC

March                         DragonEx                   $7 Million Worth of Cryptocurrency

March                          Bithumb                    3 Million EOS & 20 Million XRP

March                         CoinBene                   Unknown

February                    Coinmama                 450,000 User Emails & Passwords

January                      Cryptopia                  1,675 ETH

January.                     Cryptopia                  Min. 19,390 ETH



2018

December                QuadrigaCX                 26,350 BTC

October                   MapleChange               913 BTC

September                      Zaif                        5,966 BTC

June                             Coinrail                     1,927 ETH, 2.6 Billion NPXS, 93 Million ATX, 831 Million DENT Coins & large amounts of 6
                                                                         other tokens

June                            Bithumb                    $31 Million Worth of XRP

May                           Bitcoin Gold                $18 Million Worth of BTG (not an exchnges but Bitcoin Gold blockchian 51% attack)

May                                Taylor                      2,578 ETH

April                          CoinSecure                  438 BTC

February                       Bitgrail                      17,000,000 NANO

January                      Coincheck                  523,000,000 NEM



2017

December                     NiceHash                   4,736 BTC

December                        Youbit                    Unknown

July                                  Bithumb                  $7 Million Worth of BTC & ETH

April                                 Yapizon                   3,800 BTC




2016

August                             Bitfinex                   120,000 BTC

May                                GateCoin                  250 BTC & 185,000 ETH

April                               ShapeShift                $230,000 Worth of Cryptocurrency



2015

February                            BTER                     7,170 BTC

February                          KipCoin                   3,000 BTC

January                          Bitstamp                  9,000 BTC

January                       LocalBitcoins            17 BTC

January                               796                      1,000 BTC



2014

October                            MintPal                   3,700 BTC

July                                   MintPal                   8 Million VRC

March                               Mt.Gox                    850,000 BTC

March                              Poloniex                  97 BTC



2013

November                        BitCash                  484 BTC

May                                   Vicurex                  1,454 BTC



2012

September                      BitFloor                   24,000 BTC

May                                Bitcoinica                 18,457 BTC

March                              Linode                     43,000 BTC from Bitcoinica & 3,000 BTC from Slush




2011

June                                 Mt.Gox                    2,643 BTC

October                           Bitcoin7                  11,000 BTC



https://selfkey.org/list-of-cryptocurrency-exchange-hacks/

When I read about this hack on https://selfkey.org/list-of-cryptocurrency-exchange-hacks/ it comes to my mind that any exchange can be hacked, because the ones that have been hacked are many in number. So, I come to the conclusion that it is better to store cryptocurrencies  on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.

[1714640001]

1714640001

[1714640001]

1714640001

[1714640001]

1714640001

[Falconer]

I just found out about the altsbit exchange, this exchange was launched in 2018 but the status listing on coinmarketcap as a list of projects cannot be traced. Altsbit cannot be accessed now and there are other indications that the team may be responsible behind the hacking case.

[Jawhead999]

Yes, that's why you shouldn't leaving your coin on an exchange (third parties) and just store on your wallet, because not your keys, it's not your coin. Even you have using 2FA authenticator, completing all KYC, and other thing to make your account is secure. If your exchange are got hacked, you will lost all your coin.

This is also related with Online/web wallet (custodial wallet). So you shouldn't leave your coin on both exchange and web wallet.

[DdmrDdmr]

There’s a pretty good running thread on the matter in Trading Discussion: Hacked Exchanges since 2011. @VB1001 keeps it up-to-date, and the format is pretty seamless to follow. The last update is from February 2020.

All in all, this recap type of information gives us a clear idea why people need to be wary of the crypto they store on an Exchange, and even though some (few) hacks have been covered by the Exchange itself, these situations remain uncovered for the most, and have often lead to the end of the Exchange (with all that that entails). Keeping the amounts on the Exchanges to the bare minimum (0 or some quick (small) trading capacity) is recommended, assuming one can be his own bank without messing up.

[LeGaulois]

During most hack, cryptocurrencies were stolen while few stole users login details.

If the users' login details were used to stole coins then it's not the platform that has been hacked it's just the user account (and his/her coins) and that makes a big difference. Hackers don't use users' accounts to then hack the platform's system.

This makes exchanges even more vulnerable to hackers as they are now the primary aims of hackers

It has always been, nothing changed...

There are many exchanges that has been hacked in the past

It happens every six month period, we're used to it...

 

So, I come to the conclusion that it is better to store cryptocurrencies  on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.

Congratz for your conclusion but it's something we repeat over and over in discussions here, you only figured it now?

[Lucius]

So, I come to the conclusion that it is better to store cryptocurrencies  on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.

It is good that you have come to that conclusion, because the vast majority still do not understand that one of the key things in crypto is for everyone to be their own bank. The fact that millions of BTC (only Coinbase is holding almost 1 million BTC), is under full control of crypto exchanges is really worrying given that Bitcoin should be decentralized in terms of ownership, and that there should be no Bitcoin banks.

On the other hand, we know that many people trade on a daily basis, and we know that withdrawal fees are not low which certainly prevents many from storing their coins in relative safety of desktop/hardware wallets. But even though online wallets are insecure due to the constant possibility of hacking, phishing and privacy violations (KYC data stolen/shared with third parties) the fact that someone is using a hardware wallet does not mean absolute security.

However, I am of the opinion that security measures have significantly improved in the last few years on crypto exchanges (at least as far as those big players are concerned), and that most of the funds are stored in cold storage wallets. So most funds are relatively secure, but as I mentioned before, everyone should be in control of their private keys, because that’s the only thing that makes sense when it comes to BTC.

[gentlemand]

I'm sure plenty of exchange hacks are inside jobs so security measures don't mean anything in those circumstances.

Bter is now gate.io. they came up with some rubbish about hosting problems, said they'd pay everyone back from earnings and then lost interest and relaunched.

Those are not the actions of a blue chip operation and most exchanges are run by people who may find the temptation too much to resist.

[sheenshane]

I'm sure plenty of exchange hacks are inside jobs so security measures don't mean anything in those circumstances.

I tend to agree, I remember this when Cryptopia was hacked and everyone thinks that was extremely inside jobs but as far as I know until now the scammers didn't trace with them even though they had done investigating internally and externally.

However, a good thing to know Binance didn't experience hacking again. So, in this case, we shouldn't leave our money on the centralized exchange especially if we heard a shitty complaint against them.

Anyway, on the outside forum list, I also found on IDEX blog compiling scammed exchange.
A Complete List of Cryptocurrency Exchange Hacks [Updated]

[Synerggy]

This whole exchanges getting hacked of a thing is a big headache, maybe in future we will have good benefits access like trading in your very own wallet without having to send your coins to exchanges, I'm not talking about instaswap services like changelly or shapeshift

[Pffrt]

They say all the time, "Not your key, not your coin."
Exchanges are kind of custodial wallet and they can never be used for storing your coins, not even for a single day unless you are a day trader. For your info, couple of months ago, Binance was hacked to and around 7000 BTC was stolen if I am not mistaken. So, not a matter which exchange you are using. It's possible to get hacked and ruined your party. Use wallet which you can control, which you have private key. Otherwise, someday you will be left zero balance 

[Charles-Tim]

During most hack, cryptocurrencies were stolen while few stole users login details.

If the users' login details were used to stole coins then it's not the platform that has been hacked it's just the user account (and his/her coins) and that makes a big difference. Hackers don't use users' accounts to then hack the platform's system.

I did not write login details are used to steal, I only wrote that login details are also stolen at some point which we called data breaches. A good example is the coinmama which was hacked in 2019, only data was stolen as no coin was recorded stolen. 450,000 login details were leaked.

[Velkro]

There are many exchanges that has been hacked in the past, even a new exchange called Altsbit has been hacked this year and many cryptocurrencies  were stolen.

Code:

list

Nice list you got here but i would say this is perfectly normal.
When you will think about it, hackers in past hacked to show their skills, later to steal some data/email databases which could earn them money.
But now? They can hack one exchange and get insane amount of money. This is golden era for hackers.
What conclusion are there? That exchanges attract most and for sure best of hackers from all over the world.
Think about it, best of bests, one of them will succeed sooner or later because in computer world all defenses are created by humans so they can be breached by smarter humans

[gentlemand]

Think about it, best of bests, one of them will succeed sooner or later because in computer world all defenses are created by humans so they can be breached by smarter humans

They don't need to be the best. All they need to do is find a hole.

Coincheck kept $500 million worth of XEM in one hot wallet. XEM has multi sig actually baked into it but they couldn't be arsed with that. They could have saved $500 million by spending $100 on a Trezor but that was clearly an unacceptable expense.

We think all these exchanges are fortresses of glass and steel when the reality is many of them are floppy-haired asshole tweenies lounging around their loft, that they've probably skanked the landlord on for the rent. 

[Blank-Head]

A lot of threads already published regrading all crypto exchange hacking. And I see another this one with the same topic.And many high ranked users already did important discussion.

Here I am providing the links so that all can take a look at previous discussions:

• [Information] Altsbit Exchange hacked
• List of cryptocurrency exchange hacks
• Hacked Exchanges since 2011

Here all the threads have been updated

[hatshepsut93]

When I read about this hack on https://selfkey.org/list-of-cryptocurrency-exchange-hacks/ it comes to my mind that any exchange can be hacked, because the ones that have been hacked are many in number. So, I come to the conclusion that it is better to store cryptocurrencies  on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.

Hardware wallet is just one option, and newbies can still make mistakes with it, like buying a wallet with pre-generated seed. The key difference here is that hardware wallet allows user and only user control their keys, while exchanges are custodians. You can also use a software wallet to control your own keys, like a desktop or a mobile wallet, and you can even make your own cold storage by having a dedicated non-connected device for running wallet software.

[Apostlekin$$$]

Exchange hacks will keep happening, dont leave your coin on any exchange, once you make a trade withdraw your coins, both centralized or decentralized exchanges can get hacked by smart hackers nowadays, dex aren't safe like many thoughts, the safest place for your coins and funds is your wallet that you own the private key, find way to keep your keys safe and your coins won't leave your wallet ever

[Asuspawer09]

There are many exchanges that has been hacked in the past, even a new exchange called Altsbit has been hacked this year and many cryptocurrencies  were stolen. During most hack, cryptocurrencies were stolen while few stole users login details. This makes exchanges even more vulnerable to hackers as they are now the primary aims of hackers. Even from the list, I was so surprised to see some of the giant exchanges to be there.

Code:

In 2020
This year, 2020, Altsbit was hacked, this is a new exchange and was hacked not long after it was created, this hack was in February
Coin stolen
6,929 BTC
23,210 ETH
3,924,082 ARRR
414,154 VRSC
1,066 KMD


2019 lists
November
Upbit
342,000 ETH

VinDAX
$500,000 Worth of Cryptocurrency


July
Bitpoint
Coin stolen
1,225 BTC
11,169 ETH
1,985 BCH
5,108 LTC
Over 28 million XRP


June
Bitrue
Coin stolen
9.3 Million XRP
2.5 Million ADA


June
GateHub
Coin stolen
23,200,000 XRP

May
Binance
Coin stolen
7,000 BTC


March
DragonEx 
$7 Million Worth of Cryptocurrencies was stolen


March
Bithumb
Coin stolen
3 Million EOS
20 Million XRP

March
CoinBene
Coin stolen
Unknown

February
Coinmama
Coin stolen
No coin was stolen but 450,000  login details was leaked (User Emails & Passwords)


January
Cryptopia 
Coin stolen
19,390 ETH  was first stole while 1,675 ETH later in the same month



2018 lists

December – QuadrigaCX – 26,350 BTC

October
MapleChange
Coin stolen
913 BTC

September
Zaif 
Coin stolen
5,966 BTC


June 
Coinrail
Coin stolen
1,927 ETH
2.6 Billion NPXS
93 Million ATX
831 Million DENT Coins
Large amounts of 6 other tokens


June
Bithumb
Coin stolen
$31 Million Worth of XRP


May
Bitcoin Gold
$18 Million Worth of BTG was hacked which should be 51% attack on BTG blockchain. 

Taylor
Coin stolen[/b]
2,578 ETH

April
CoinSecure – 438 BTC

February
Bitgrail 
Coin stolen
17,000,000 NANO


January
Coincheck
Coin stolen
523,000,000 NEM



2017 lists
December – NiceHash – 4,736 BTC

December – Youbit – Unknown

July – Bithumb – $7 Million Worth of BTC & ETH

April – Yapizon – 3,800 BTC

216 lists
August – Bitfinex – 120,000 BTC

May – GateCoin – 250 BTC & 185,000 ETH

April – ShapeShift – $230,000 Worth of Cryptocurrency



2015 lists

February
BTER
7,170 BTC

KipCoin
3,000 BTC

January
Bitstamp – 19,000 BTC

LocalBitcoins – 17 BTC

 796 – 1,000 BTC



2014 lists

[b]October[/b]
MintPal
3,700 BTC

July
MintPal
8 Million VRC

March
Mt.Gox – 850,000 BTC

March
Poloniex – 97 BTC


2013
November

BitCash
Coin stolen
484 BTC

May
Vicurex
Coin stolen
1,454 BTC



2012
September
BitFloor
Coin stolen
24,000 BTC

May

Bitcoinica
Coin stolen
18,457 BTC

March
Linode 

Coin stolen
43,000 BTC from Bitcoinica
3,000 BTC from Slush
Linode Linode is a web hosting provider, and they hosted the cryptocurrency exchanges Bitcoinica and Slush. So, when Linode was hacked, coins were from Bitcoinica and Slush


2011 lists

June – Mt.Gox – 2,643 BTC

October
Bitcoin7 
Coin stolen
11,000 BTC

When I read about this hack on https://selfkey.org/list-of-cryptocurrency-exchange-hacks/ it comes to my mind that any exchange can be hacked, because the ones that have been hacked are many in number. So, I come to the conclusion that it is better to store cryptocurrencies  on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.

Well, it's not recommended to leave your investment in a exchange for the long term since I've seen a lot of exchanger closing because of the movement of the price market.

For exchanges having a lot of funds in their wallet at least, they should make sure they getting secured for their own and their users. For sure it would be easy hiring some people to do this since they might earn a big profit in their exchange.

[Kakmakr]

The problem is when you trade you have to leave some coins on the exchange for sell orders. So it is not practical to constantly withdraw coins from the exchange when you are not trading. It is advisable not to use an exchange as a wallet or to store large amounts of coins at any point of time in these exchanges.

Also Exchanges are the honeypot for hackers and they are pulled to it like flies are drawn to sh1t. Hackers are always looking for the big score and the brag rights when they were able to hack a large exchange. 

[Charles-Tim]

I only heard about hacking on the Binance Exchange. I think scamers will always target large amounts of assets, especially on exchanges. therefore use the exchange as needed and leave no coins in the exchange.

There are many exchanges that have been hacked before, starting from 2011, if you check it well the above article very well, the exchanges that were hacked increased in number and their were more hacked exchanges in 2018/2019.  But this year as been different because only one exchange which is Altsbit has been hacked. And not only binance that has been hacked before, exchanges are for trading while wallets should be a place to store your cryptocurrencies.

[20kevin20]

This is what happens when the creators of some exchanges are the same users asking on a forum how much it costs to have the cheapest one set up. It's a shame that so many non-popular exchanges out there never care about even the most essential security advices.

There are backdoors out there because too many exchanges are focusing on adding as many shitcoins as possible to take every little penny of profit they can instead of leaving the new coins for later while creating a strong security layer for both their own safety so they can't be liable for such events and the customers' as their funds would be stored safely.

Like damn it, at least spend a few grand to protect the exchange wallet if not the website overall.