Hackers go crypto attack crazy, stealing billions

In the last four years or so, there have been a total of 40 crypto attacks totalling $2.3 billion in losses, including the $40 million hack on South Korean exchange Coinrail over the weekend, which is reportedly the ninth biggest cyber theft.

According to TechCrunch, 2018 is on track to become the worst ever year for hacks, while over the past year, the average of crypto-attacks stands at one per month.

Coincheck lost an estimated $400 million earlier this year and in November 2017, Tether reportedly lost $31 million. EtherDelta suspended its exchange service for a period in December after it was compromised. The amount stolen was not revealed.

The biggest hack on record was staged against Mt. Gox for the amount of approximately 744,408 Bitcoin tokens, which at the time was valued at $350 million. Today, those Bitcoins are valued at $5.3 billion.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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