Topic: $1.7 billion in Bitcoin stolen - page 3. (Read 804 times)
It would have be a good ideal if more research could be done solely for the purpose statistical data on stolen bitcoin by hackers from exchanges and also, for individuals whose hacks are well known to the public. This will enable us know the exact worth of bitcoin stolen.
Mostly, they are reporting a lost if the bitcoin value is relly big but there are so many hacked account who were not reported.
There are so many hacker in this world and i think everyday has a victim. we should be more careful on what we are doing.
There are so many hacker in this world and i think everyday has a victim. we should be more careful on what we are doing.
that is a huge number even for the hackers and lets not forget that the amount can grow at the next bull run. if we step aside the bitcoin stole from hackers and the lost bitcoins we get some surprising numbers.
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
It sounds like a shit tone of money, but it doesn't mean that the banks do a better job. He says that should protect the money as good as banks, and they probably do. It's hard to compare, of course, as the total amount of bitcoins is far less that the total amount of fiat. If we compare only the stolen sums, though, then banks lose more of people's money than crypto wallets do. You're saying that 1.7 billion dollars were stolen in 10 years. Take a look at this 2015's report about malware: https://money.cnn.com/2015/02/15/technology/security/kaspersky-bank-hacking/index.html. Approximately 1 billion was stolen because of it just as a part of a single complex attack! Take a look about this article on 16 billion dollars stolen in a single year: https://www.cnbc.com/2017/02/01/consumers-lost-more-than-16b-to-fraud-and-identity-theft-last-year.html.https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
People need to be more careful with their passwords and private keys is all I can say.
maybe the amount is really more than that, but we really need to keep our BTC safe from hackers.
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
Every year we experience big losses but the losses happen when some hackers stole our bitcoin. We really need to secure our funds and cryptocurrencies because once they hack your wallet there is no chance that you will recover it. For our security do not keep your cryptocurrencies in a exchange and its better to put it in a wallet especially hardware wallet. https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
That is a huge amount. IMO, hackers will try to hack anywhere that has money. And crypto is a good target since it is easier to hack an exchange than bank. This is why we have to be careful and don’t store our coins in the exchanges.
These exchanges should know that there have been many hacks in the past and that cold storage is a must. Minor hacks on hot wallets can be somewhat tolerated, but not multi million dollar losses
Why companies can't make a good security system. I'm not a developer, but still why??? It doesn't matter fiat or crypto hackers are everywhere
I've also discussed this on my YouTube channel about where there will be a lot of hacking on exchange sites in 2018 and early 2019, so the video looks normal in my opinion, just saying a little that history always repeats with the same purpose 
$1.7 billion of CRYPTOCURRENCIES have been stolen since bitcoin came into being. Not $1.7 billion of BITCOIN.
How many $ worth of paper notes do you think have been stolen since they introduced cash? How many $ have been stolen as a result of credit card skimming?
The overwhelming majority of bitcoin theft has been due to exchange hacks, it's well known that if you don't own your keys, it's not your crypto.
Some examples of that:
Mt Gox lost +$480 million bitcoin (Source)
Bitfinex lost +$70 million bitcoin (Source)
Also NiceHash lost $70 million bitcoin (Source)
As for other cryptocurrencies:
CoinCheck lost +$530 million NEM (Source)
BitGrail lost +$150 million Nano (Source)
My point isn't just that it wasn't solely bitcoin that was stolen, but more importantly that these thefts, for the most part, occurred due to SecOps mistakes of centralized companies (most of which are exchanges). Sure there's malware floating around that might change a btc address when you copy/paste it, the solution is don't manually enter addresses, use a QR code or nfc or something else. Also stop storing crypto on exchanges and assuming it's safe, look at what happened to Cryptopia the other week. This will keep happening until people learn to store their crypto in addresses that they are the sole owners of. If everyone stored their crypto properly and stopped storing them in honeypots, we wouldn't be hearing about this all the time.
Exchanges are great, in fact, they're essential, but they're not banks, so don't store your crypto on them unless you're okay with losing it.
How many $ worth of paper notes do you think have been stolen since they introduced cash? How many $ have been stolen as a result of credit card skimming?
The overwhelming majority of bitcoin theft has been due to exchange hacks, it's well known that if you don't own your keys, it's not your crypto.
Some examples of that:
Mt Gox lost +$480 million bitcoin (Source)
Bitfinex lost +$70 million bitcoin (Source)
Also NiceHash lost $70 million bitcoin (Source)
As for other cryptocurrencies:
CoinCheck lost +$530 million NEM (Source)
BitGrail lost +$150 million Nano (Source)
My point isn't just that it wasn't solely bitcoin that was stolen, but more importantly that these thefts, for the most part, occurred due to SecOps mistakes of centralized companies (most of which are exchanges). Sure there's malware floating around that might change a btc address when you copy/paste it, the solution is don't manually enter addresses, use a QR code or nfc or something else. Also stop storing crypto on exchanges and assuming it's safe, look at what happened to Cryptopia the other week. This will keep happening until people learn to store their crypto in addresses that they are the sole owners of. If everyone stored their crypto properly and stopped storing them in honeypots, we wouldn't be hearing about this all the time.
Exchanges are great, in fact, they're essential, but they're not banks, so don't store your crypto on them unless you're okay with losing it.
Yeah, this information is clear more. $1.7B includes other altcoins/ tokens. We can see that almost the money has been hacked from the exchanges. So I think we should store coins/ tokens in hardwallet or private wallet. That looks safe more.
There are so many unreported thefts , and many personal thefts that are discussed in various forum but never accounted in any official report. The number can go much higher. As already pooya pointed, there is difference between the lost vs stolen. these all are stolen coins.
Bitcoin is hacked before but I think bitcoin is more secure now. I dont know how hackers hacked bitcoin before and they get millions of $ before but we can secure our own bitcoin with some other ways if you are holding huge amount of bitcoin today, you can save it in a safe storage so you will not lose your bitcoin and hack by hackers
Not only hacking many ICOs are fake collected millions of money we cannot really conclude that most of this are really cause of hacking what about inside job? Some exchanges cannot provide liquidity to users and they are forced to close the service, some pretended to be hacked no one knows.
As bitcoin is completely dependent on internet connectivity, hackers find it an easy way to try the hacking tricks. In another use case, this being decentralized even a small bug leads to freezing of funds. It's highly risk involved and to the same exchanges and the blockchain networks were developing the security system better. Beyond this when something takes place we cannot blame the developers and the team. It is our fate to lose.
you have got two things wrong here, first that these coins are not lost, they are stolen or hacked. second is that the value is mostly a guesstimate specially since price has been going up constantly and last time i checked they weren't doing a good job calculating the USD value of the total stolen amount based on the price change.
in any case this proves once again that you should not trust exchanges because they are either weak and are going to get hacked or shady and are going to scam you themselves
in any case this proves once again that you should not trust exchanges because they are either weak and are going to get hacked or shady and are going to scam you themselves
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
This is one of the reasons of why Bitcoin price and the whole crypto market plummet as we cannot expect that the hackers will hold their stolen cryptos for good but they will surely will sell those assets for cash immediately making the price of the market to crash. This is constanly happening since the beginning but still it seems that the exchanges ignored it or the hackers are just talented enough to bypass the exchanges defense.
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
Only $1.7M stolen !! I think it is more than that you have said and referring from this video. Hackers are always trying to hack Bitcoin but Blockchain wallet is normally not hackable but if you do any fault, your wallet may be hacked.
You said $1.7M even though you quoted the OP and it says $1.7 billion
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be
Only $1.7M stolen !! I think it is more than that you have said and referring from this video. Hackers are always trying to hack Bitcoin but Blockchain wallet is normally not hackable but if you do any fault, your wallet may be hacked.
Please put the word "billion" in the title
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