Hackers see cryptomeria extremely attractive target, and in the ten-year history of digital coins was a lot of loud break-ins and robberies. Let’s look at some of the largest cryptocurrency break-ins that took place in the history of this industry.

V: the Cracking crypto currency exchange Bitcoinica in 2012; damages – more than 120 000 bitcoins

In 2012, Bitcoinica was a popular trading platform for bitcoins, which used to belong to Zhou Tong. It was quite an advanced exchange at the time, but apparently it was not enough precaution, since it suffered three losses of bitcoins in one year.

1 Mar 2012 a man has deciphered the hottest wallets Bitcoinica hosted Linode, and took 43 554 bitcoin. 11 may 2012 there was another attack. This time the attacker was able to access the database of the exchange, and he received confidential information, stole 38 000 bitcoins. In the same year, the platform has lost 40,000 bitcoins, which were stored in the secret accounts of Mt.Gox. In General, the platform has lost more than 120 000 bitcoins, which then was about $430 000.

IV place: Breaking crypto currency exchange Bitfinex in 2016; damage 119 756 bitcoins

August 2, 2016, the hackers managed to steal 119 756 bitcoins from the accounts of some users of the crypto currency exchange Bitfinex using a vulnerability in multipacting wallets, and BitGo Bitfinex. Stolen coins at that time was worth $72 million While the stock exchange managed to return only 27.7 BTC of nearly 120 000 coins. However, within eight months after the incident, all affected users damage was compensated. Bitfinex team happily works to this day as one of the largest trading platforms.

Third place: Breaking crypto currency exchange Mt.Gox in 2014; damage – 850 000 bitcoins – $459 million

In 2013 and 2014 Mt. Gox was the biggest bitcoin exchange, which attracted the attention of hackers. The first break-ins that led to the loss of about $8 750 000, occurred in 2011. However, in February 2014, it seems, was discovered the most famous in the history of bitcoin theft, with the result that the company Mt.Gox announced its bankruptcy. Hidden break-ins and thefts continued for 3 years, undetected by the staff of Mt.Gox.

After discovering the hacking, the company has suspended trading and withdrawal of funds, closed the site and declared bankruptcy. The company reported that approximately 750 000 customers and 100,000 of its own bitcoins is slowly sucked out of the hot wallets of exchanges. Lost 850 000 BTC was worth at that time of about $473 million and accounted for 7% of all bitcoins in circulation.

Second place: Breaking crypto currency exchange Coincheck in 2018; the damage is 500 000 XEM – more than $500 million

In January 2018, the Tokyo-based crypto currency exchange Coincheck suffered even greater financial loss than Mt.Gox. Hackers stole 500 million coins NEM (XEM) from hot wallet, which had the function of multi-signatures. At the time of theft these tokens cost about $533 million Hacking Coincheck remains the largest robbery from the point of view of the value of the coins in U.S. dollars.

First place: Error overflow an integer variable in bitcoin in 2010 “184 billion bitcoins out of nothing”

If we talked about theft, it seems, the highest importance should be given to a little-known hacking bitcoins, which could cost humanity all bitcoins in the world! You probably know that the number of bitcoins is limited to 21 million coins, but only few know that for several hours August 15, 2010 in the world was more than 184 billion bitcoins! Then the hacker who took advantage of the error overflow of an integer variable, managed to create “more than 184 billion coins out of nothing.”

The violation of the output of the transaction block 74638 was discovered and fixed just a few hours. If the team didn’t react in time, the hacker could cause a serious blow to the reputation of bitcoin.

Message Five biggest hacks in the history of kriptonyte appeared first on crypto.by.