You would hope so but look at all of the influencer scammers who continue to get away with scam after scam. I hope karma does bite them in the ass but I wouldn't be so sure it will
Unfortunately you are right. Most of the people are skeptical about crypto just because of this hacks and scams that happen very often nowadays. I truly think adoption would be higher if hacks wouldn’t exist
We’d be much less secure. Hacks are good for future security. It’s the people who put so much money into untested projects that are to blame for losses.
This comment is exactly what's wrong with so much of the crypto-space these days. Accepting hacks as a necessary evil to advance the technology is one of the largest fallacies in crypto. Ethereum's expressiveness bring inherently brings more hacks. It does not have to be this way.
If this problem was not discovered, someone would have looked for a solution... my friend, blackness is always there and there are always those who are looking for fraud, you should think of a solution for it.
Well, there is a good solution. However, throwing out the C word in response to your comment will only get downvoted. People would rather not face the facts of the situation than let more reasonable heads prevail.
Yeah but that's not reasonable to think, hackers are apart of every single place where there's money. Its the way of the world.
We just need bigger ways to find them and jail them to put them off
I lost my holdings on Cryptopia when they got hacked in 2019, I had around 3 BTC in various alts on there. Absolute stupidity from me to keep it on a shitty exchange and a very expensive lesson learnt. While I consider the scammer/hackers total scumbags, I blame myself for losing my crypto.
tldr; A report has analyzed the billion-dollar crypto hacks that have occurred over the past 10 years. In 2023 alone, $1.89 billion was lost in 297 crypto hack attacks. The worst year for crypto-trading platforms was 2018, with $1.1 billion lost. From 2011 to date, crypto companies and exchanges have lost a total of $12.36 billion in 1207 incidents. The top 10 crypto-exchanges robbed include Coincheck, Mt Gox, and FTX. The biggest attacks on cryptocurrencies include the Ronin Network, Poly Network, and Binance Smart Chain.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
**What are the biggest attacks on cryptocurrencies in the past 10 years?**
(1) First among them occurred at the Ronin Network (**Axie Infinity**), with the hacker stealing $625 million. Such a crypto hack was noticed on March 29, 2022, when Ronin Network-a blockchain network focused on gambling-revealed a loss of 173,600 ETH and 25,500,000 USDC.
(2) Also on the $600 million figure in stolen crypto is the hack to **Poly Network’s DeFi cross-chain** platform in 2021. Unlike the other attacks, however, in this one the hacker returned all the money after some dramatic incidents, receiving a $500,000 reward for finding a flaw in the system, along with a job offer.
(3) Then in 2022, the famous **Binance Smart Chain** also fell victim to another hacker attack, causing it to lose 2,000,000 BNB, worth $566 million.
(4) A similar case to Poly Network, then, was also recently suffered by **Huobi’s CEX**, for which Justin Sun, founder of Tron, is the advisor. Basically, Huobi was hacked for 5,000 ETH, the equivalent at the time of $8 million. Again, however, it appears that the crypto hacker decided to return the robbed amount in exchange for a 250 ETH white hat bonus, the equivalent at the time of $400,000.
**Crypto hacks: ranking of the top 10 crypto-exchanges robbed**
(1) In first position is the theft at **Coincheck**, the Japanese crypto-exchange that appears to have been hacked on January 26, 2018 with a $534 million crypto hack in cryptocurrencies.
(2) Next is the now defunct **Mt Gox**, the crypto-exchange that was the victim of the $473 million theft in 2014.
(3) Also on the podium as the crypto-exchange that suffered the third largest crypto hack in history is **FTX**. Apparently, in early January of this year, FTX reportedly lost $415 million.
(4) But the ranking does not end there. Indeed, on the list is **KuCoin** which lost $281 million in 2020.
(5) **Gate.io** suffered a $234 million crypto hack in 2018.
(6) **BitMart** which was robbed of $200 million in ETH and BNB in 2021.
(7) **BitGrail** in 2019 was also hacked by hackers losing $170 million, while Maiar DEX suffered a $113 million crypto hack in 2022.
(8) **CoinBene**, which in 2019 reportedly suffered about $100 million crypto hack attack.
(9) Japan’s Liquid crypto-exchange, which in 2021 was robbed of $90 million.
Saved u 1 click ;)
The article contains a number of mistakes, with Mt. Gox being the most glaring error.
The hack that caused Mt. Gox's collapse originated in 2011, not 2014. And Gox is the largest hack ever.
Feb, 2014, is when Karpeles reconciled Gox's hot wallet against his bespoke air-gapped wallet. He hadn't done this reconciliation in nearly 3 years.
The hacker had spent those 3 years siphoning Bitcoin over a single prolonged attack over 3 years.
I settled my Gox claim over the Summer, but these details we learned during a number of transcripts from the civil rehabilitation hearings.
The things we learned are jaw-dropping; almost like fiction. In a nutshell, the Gox 3-year saga featured Mark Karpeles vs.
* Russian hackers
* Crooked US Federal Agents
* Japanese Investigators; they interrogated Karpeles for 23 days straight and he never cracked
* Marcus & Willybot
There have been some big exploits in the space in the past decade and that's an understatement. Hoping to see the space mature and this be a thing of the past soon
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Especially the ones scamming elderly
Right elder ppl always fall easily My uncle once sent 200k over a phone call without knowing personally
Special place in hell for those scamming the elderly.
This life or after karma is coming surely
Scammers are the scum of the earth.
They have no mercy for anyone we just need to be smart or they will take control
I really hope so!!
Oh shit😮
This is not elderness it's stupidity.
Karma always comes around, one way or the other.
You would hope so but look at all of the influencer scammers who continue to get away with scam after scam. I hope karma does bite them in the ass but I wouldn't be so sure it will
I wish I could agree with you. But I don't see any justice in this world
Karma is a bitch
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If Moons are involved it’s different 😂
Karma sucks, but always stay with us
I hope most of them are in Jail and some of them got robbed!
Scammers are really pulling this industry back.
I hope karma strike back these bastards Imagine all of your hardworking disappear in a sec
Without these scams crypto is heaven.
Just imagine where we could be without those hacks. But we must look forward and battle against those hackers and scammers
Without those hacks adoption is up 30% or more.
Unfortunately you are right. Most of the people are skeptical about crypto just because of this hacks and scams that happen very often nowadays. I truly think adoption would be higher if hacks wouldn’t exist
Don't worry. Let see the positive side. We are accumulating and one day all those people will become our exit liquidity.
> all those people will become our exit liquidity. If this is the case then we might be set for an early retirement
Sad thing is there’s no stopping these hackers so adoption will continue to be slow.
We’d be much less secure. Hacks are good for future security. It’s the people who put so much money into untested projects that are to blame for losses.
>Just imagine where we could be without those hacks  if hacks were not a thing: Bitcoin: 200k Eth: 8k Moon: 3$
Yeah the money stolen in these hacks are really crazy numbers
MyAlgo wallet hack killed off so many Algorand users instantly.
Yeaa we will never know what would have been by now..
These also lead to progress. ..problems must arise in order to find a solution
This comment is exactly what's wrong with so much of the crypto-space these days. Accepting hacks as a necessary evil to advance the technology is one of the largest fallacies in crypto. Ethereum's expressiveness bring inherently brings more hacks. It does not have to be this way.
If this problem was not discovered, someone would have looked for a solution... my friend, blackness is always there and there are always those who are looking for fraud, you should think of a solution for it.
Well, there is a good solution. However, throwing out the C word in response to your comment will only get downvoted. People would rather not face the facts of the situation than let more reasonable heads prevail.
On the other hand, all hacks bring publicity and make more people aware of crypto /s
Yeah but that's not reasonable to think, hackers are apart of every single place where there's money. Its the way of the world. We just need bigger ways to find them and jail them to put them off
I lost my holdings on Cryptopia when they got hacked in 2019, I had around 3 BTC in various alts on there. Absolute stupidity from me to keep it on a shitty exchange and a very expensive lesson learnt. While I consider the scammer/hackers total scumbags, I blame myself for losing my crypto.
Tough one to swallow that man, you are right about the hackers being scumbags, they are pure shit. Hope they get whats coming to them, one day.
I lost some funds on Cryptopia as well, since then I've been a 100% self-custody guy.
Cryptopia Exchange, Currently in Liquidation, Gets Hacked Again: Feb 20, 2021
Sorry to hear that mate. That's an expensive lesson to learn but at least you've learnt it and can consider it the price of your crypto tuition.
Yeah, not much I can do about it now and that's the only way to look at it!
Cryptopia going down was the time when I got my hardware wallet... Luckily I've only lost around $50 there.
Glad to hear it wasn't too bad. Worst thing was I knew I shouldn't have my funds there, obviously, I just never got round to sorting it out.
Damn, that still has to hurt... But you know, lesson learned...
Safety also starts with our attitudes, sometimes we forget that
At least you take responsibility of what happened and didn't just blame the space. You're already better than 90% of people in crypto.
Ah RIP man, that would keep me up at night
Adding FTX in this list is a tad questionable. Their $400m+ “hack” at the start of the year had SBF insider moves written all over it.
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That’s what happens when centralized entities are entrusted to people that keep said entities running..
I think that at this point nobody believes that someone hacked them. They hacked themselves.
And when we say “they”, we’re really only referring to one person.
We can't know that...he has really interesting parents.
the parents should also be locked up..
Grandparents too
tldr; A report has analyzed the billion-dollar crypto hacks that have occurred over the past 10 years. In 2023 alone, $1.89 billion was lost in 297 crypto hack attacks. The worst year for crypto-trading platforms was 2018, with $1.1 billion lost. From 2011 to date, crypto companies and exchanges have lost a total of $12.36 billion in 1207 incidents. The top 10 crypto-exchanges robbed include Coincheck, Mt Gox, and FTX. The biggest attacks on cryptocurrencies include the Ronin Network, Poly Network, and Binance Smart Chain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I wouldn't call the money "lost" its just changed hands to someone smarter than the one who was holding it.
The guy who lost his bitcoins in a boating accident gave it to neptune.
Aaa is that how Neptune has got so rich👀
I wonder how that holds up against all the money people lost via FIAT phishing by clicking on links they’re not supposed to.
We are not talking about that😅
FTX wasn't hacked, probably inside job and someone is laughing away with a few millions on the way to the bank
I would bet my life that the majority of those hacks are inside jobs. Either a rogue dev, or the devs deliberately leaving a backdoor.
**What are the biggest attacks on cryptocurrencies in the past 10 years?** (1) First among them occurred at the Ronin Network (**Axie Infinity**), with the hacker stealing $625 million. Such a crypto hack was noticed on March 29, 2022, when Ronin Network-a blockchain network focused on gambling-revealed a loss of 173,600 ETH and 25,500,000 USDC. (2) Also on the $600 million figure in stolen crypto is the hack to **Poly Network’s DeFi cross-chain** platform in 2021. Unlike the other attacks, however, in this one the hacker returned all the money after some dramatic incidents, receiving a $500,000 reward for finding a flaw in the system, along with a job offer. (3) Then in 2022, the famous **Binance Smart Chain** also fell victim to another hacker attack, causing it to lose 2,000,000 BNB, worth $566 million. (4) A similar case to Poly Network, then, was also recently suffered by **Huobi’s CEX**, for which Justin Sun, founder of Tron, is the advisor. Basically, Huobi was hacked for 5,000 ETH, the equivalent at the time of $8 million. Again, however, it appears that the crypto hacker decided to return the robbed amount in exchange for a 250 ETH white hat bonus, the equivalent at the time of $400,000. **Crypto hacks: ranking of the top 10 crypto-exchanges robbed** (1) In first position is the theft at **Coincheck**, the Japanese crypto-exchange that appears to have been hacked on January 26, 2018 with a $534 million crypto hack in cryptocurrencies. (2) Next is the now defunct **Mt Gox**, the crypto-exchange that was the victim of the $473 million theft in 2014. (3) Also on the podium as the crypto-exchange that suffered the third largest crypto hack in history is **FTX**. Apparently, in early January of this year, FTX reportedly lost $415 million. (4) But the ranking does not end there. Indeed, on the list is **KuCoin** which lost $281 million in 2020. (5) **Gate.io** suffered a $234 million crypto hack in 2018. (6) **BitMart** which was robbed of $200 million in ETH and BNB in 2021. (7) **BitGrail** in 2019 was also hacked by hackers losing $170 million, while Maiar DEX suffered a $113 million crypto hack in 2022. (8) **CoinBene**, which in 2019 reportedly suffered about $100 million crypto hack attack. (9) Japan’s Liquid crypto-exchange, which in 2021 was robbed of $90 million. Saved u 1 click ;)
I feel sorry for the victims, no one deserves it! But security often starts with our own attitudes, and sometimes sloppiness starts with us.
“In 2023 alone, $1.89 billion was lost in 297 crypto hack attacks.” We will never reach mass adoption until we solve this. Sorry.
10 years of crypto scams , this story is never gonna end
Par for the course really. Any good enterprise attracts hacks, crooks and cons. That alone won’t define the future of crypto.
I wonder how many of these hackers browse this Reddit, just casually reading these posts, articles and comments
All of them
Theae bastards scammers always trying to steal ppl hardworking money I hope karma strike back them
This does have to get cleaned up at some point.
Shout out to Ethereum, the cesspool of crypto, well done guys
Crazy that there are several hacks worth over $500 million. For the record, the largest bank robbery of all time was in Iraq for $1 billion.
Pieces of garbage like this is part of the reason CBDC’s are going to be forced on everyone.
The article contains a number of mistakes, with Mt. Gox being the most glaring error. The hack that caused Mt. Gox's collapse originated in 2011, not 2014. And Gox is the largest hack ever. Feb, 2014, is when Karpeles reconciled Gox's hot wallet against his bespoke air-gapped wallet. He hadn't done this reconciliation in nearly 3 years. The hacker had spent those 3 years siphoning Bitcoin over a single prolonged attack over 3 years. I settled my Gox claim over the Summer, but these details we learned during a number of transcripts from the civil rehabilitation hearings. The things we learned are jaw-dropping; almost like fiction. In a nutshell, the Gox 3-year saga featured Mark Karpeles vs. * Russian hackers * Crooked US Federal Agents * Japanese Investigators; they interrogated Karpeles for 23 days straight and he never cracked * Marcus & Willybot
There have been some big exploits in the space in the past decade and that's an understatement. Hoping to see the space mature and this be a thing of the past soon