– $1.74B = all-time amount hacked from cryptocurrency exchanges worldwide
– $158M = amount hacked in 2019
– Bitcoin is the most often stolen cryptocurrency
For the past decade, Crypto Exchanges have faced the wrath of hackers. More than 1.7 Billion US Dollars have been stolen from Crypto exchanges.
The alarming trend in the crypto exchange market is that, within the first 7 months of 2019, the industry has experienced the same number of hacking attacks as in the entire of the previous 2018 year, and cyber security gaps in 2019 were mainly experienced by the established crypto exchanges.
The detailed list of hacks at cryptocurrency exchanges that have happened between 2011 and 2019
|November 2019||Upbit||South Korea||$50,000,000||Ethereum|
|July 2019||Bitpoint||Japan||$32,000,000||Bitcoin, BTC Cash, Ripple.|
|June 2019||Bitrue||Singapore||$5,000,000||Ripple and Cardano.|
|March 2019||Bithumb||South Korea||$13,000,000||Ripple and EOS|
|March 2019||DragonEx||Singapore||$7,000,000||Multiple major coins|
|Jun 2018||Bancor||Switzerland||$23,500,000||Ethereum and others|
|Jun 2018||Coinrail||South Korea||$40,000,000||Multiple coins|
|Jun 2018||Bithumb||South Korea||$31,000,000||XRP|
|Dec 2017||YoBit||South Korea||17% of crypto assets|
|Aug 2017||OKEX||Hong Kong||$3,000,000||Bitcoin|
|Apr 2017||Ether Delta||$266,000||Ethereum|
|Apr 2017||Yapizon||South Korea||$5,300,000||Bitcoin|
|Apr 2017||YoBit||South Korea||$5,600,000|
|Feb 2017||Bithumb||South Korea||$7,000,000||Bitcoin|
|Aug 2016||Bitfinex||Hong Kong||$72,000,000||Bitcoin|
|Oct 2014||Mintpal||UK||$3,500,000||Vericoin, Bitcoin|
|Oct 2014||Bitpay||United States||$1,800,000||Bitcoin|
|Jul 2014||Cryptsy||United States||$9,500,000||Bitcoin, Litecoin|
|Mar 2014||Poloniex||United States||$50,000||Bitcoin|
|Feb 2014||Mt. Gox||Tokyo||$460,000,000||Bitcoin|
|Nov 2013||Inputs io||$1,200,000||Bitcoin|
|Oct 2011||Bitcoin 7||$50,000||Bitcoin|
|Jul 2011||Mt. Gox||Tokyo||$30,000||Bitcoin|
The number of hacks at cryptocurrency exchanges that have happened between 2011 and 2019
|Year||Number of hacks||Total amount affected|
|Jan-Nov 2019||7||158,000,000 USD|
You might notice by now that the exchanges are at major risk by hacks. To combat this, crypto exchanges have tried to use various techniques like storing funds in cold wallets. However, as exchanges operate over the web, some funds are also stored in hot wallets. While the hot storage (online wallet, e.g. Metamask) of private keys has lead to these headline snatching news, there are surely ways to have a secure, simple and entertaining crypto trading experience.
To keep your funds safe at the exchange, BBOD has come up with a novel non custodial solution. It means that we do not hold your funds, instead they are safely stored inside a special ethereum wallet called a smart contract and simply cannot be hacked. This proprietary method by BBOD uses the Ethereum blockchain paired with a smart contract programmed on the blockchain to keep user funds safe. This is where the offering by BBOD comes to the rescue.
BBOD offers a state of the art non custodial trading platform with leverage up to 50x. Trading on BBOD is much safer than any other centralised exchange.
This is a community driven research article. You can contribute to the research and find the table of cryptocurrency hacks with all the details. Please report any missing hack to our telegram chat : https://t.me/BBODCommunity
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