Topic: $1.7 billion in Bitcoin stolen - page 4. (Read 804 times)
I think a lot more has been stolen. So many Exchange and ponzis around the world that were never "accounted for" and that no one bothered to speak. These Robberies happen every day.
It's probably much more, many hacks happen to reputable companies and they're trying to hide the fact so they can keep their reputation.
The network is secure, but second layers (exchanges, storage services and others) if not made by the right people are always subject to hacking.
And some individuals just don't know how to keep their coins safe despite our constant reminders.
The network is secure, but second layers (exchanges, storage services and others) if not made by the right people are always subject to hacking.
And some individuals just don't know how to keep their coins safe despite our constant reminders.
The problem is not with Bitcoin but with many platforms keeping Bitcoin especially the many exchanges who could not keep up with the security challenges which hackers are always exploiting. There must be standard along this line and maybe some certification so we know that an exchange is doing what they should be implementing along the security concerns. It is quite sad that with cryptocurrency, we are becoming the big paradise for hackers and scammers because these people find this industry more lucrative and easier to break. I am wishing for the time when these scammers and hackers can be stopped.
$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.
Hacking is a popular incident through crypto's and counting them won't make sense because there's still money flowing to the market. And what'swith those youtube videos that you've been including with your every post?
What's the point of telling that there's $1.7B lost because of hacks? the banks has the most lost when there are hackers penetrating to their clients and steals money out of their own funds on cloud.
What's the point of telling that there's $1.7B lost because of hacks? the banks has the most lost when there are hackers penetrating to their clients and steals money out of their own funds on cloud.
The videos offer an easy explainer on the subject to inform viewers. It's important to point out just how much has been lost in crypto hacks in recent years.
Hacking is a popular incident through crypto's and counting them won't make sense because there's still money flowing to the market. And what'swith those youtube videos that you've been including with your every post?
What's the point of telling that there's $1.7B lost because of hacks? the banks has the most lost when there are hackers penetrating to their clients and steals money out of their own funds on cloud.
What's the point of telling that there's $1.7B lost because of hacks? the banks has the most lost when there are hackers penetrating to their clients and steals money out of their own funds on cloud.
I think we need to do some research here. How much of these lost Bitcoins is on the exchanges. As we know, Bitcoin wallets cannot be hacked by normal means. In my opinion there are very few hacking events due to the use of daily BTC.
It's probably around like the number said in the OP, but I know NiceHash lost a lot of bitcoins too when it got hacked. If only people knew how to keep their coins in their own wallets then this wouldn't be a problem at all.
I think we need to do some research here. How much of these lost Bitcoins is on the exchanges. As we know, Bitcoin wallets cannot be hacked by normal means. In my opinion there are very few hacking events due to the use of daily BTC.
It's probably much more, many hacks happen to reputable companies and they're trying to hide the fact so they can keep their reputation.
The network is secure, but second layers (exchanges, storage services and others) if not made by the right people are always subject to hacking.
And some individuals just don't know how to keep their coins safe despite our constant reminders.
The network is secure, but second layers (exchanges, storage services and others) if not made by the right people are always subject to hacking.
And some individuals just don't know how to keep their coins safe despite our constant reminders.
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
Jump to: