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The Biggest Crypto Hacks Of All Time

MNabilAli

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Hacking crypto and running away with the bounty is enormously lucrative. That’s why a large number of crypto exchanges have been targeted by cyber criminals. Below is compiled list of the biggest crypto hacks of all times, keep in mind that what listed in this list are the reported hacks as some security breaches were not reported to the public. Update: I added the recent BitPoint hack.

July 12, 2019 The Japanese exchange BitPoint lost $32 million in a hack attack.

June 27, 2019 Bitrue, Singapore-based cryptocurrency exchange Bitrue has been hacked for around $4.2 million in user assets.

May 7, 2019 Binance, World’s largest exchange loses $40 million via a single transaction in a large scale security breach.

April 1, 2019 Bithumb, the South Korean crypto exchange Bithumb was hacked for the third time and lost around $13 million in the EOS and XRP

March 25, 2019 Coinbene lost Over $100 Million in crypto a security breach.

March 24, 2019 DragonEx, had a security breach and lost unknown amount of crypto.

February 15, 2019 Cryptopia, suffered a security breach and lost 19,391 (ETH) tokens worth nearly $2.44 million and around 48 million centrality (CENNZ) tokens worth about $1.18.

September 14, 2018 Zaif the Japanese based cryptocurrency exchange has been hacked, about $60 million worth of cryptocurrency.

July 9, 2018 Bancor was hacked and lost around $23 million of cryptocurrency.

June 19, 2018 Bithumb the South Korean crypto exchange got hacked for the second time and lost around $31 million in cryptocurrency.

June 10, 2018 Coinrail the South Korean crypto exchange lost $40 million in hack attack.

February 8, 2018 BitGrail lost 17 million coins of Nano (XRB) in a hack attack.

January 26, 2018 Coincheck the Japanese exchange lost $500 million in crypto as a result of a security breach.

January 26, 2018 LocalBitcoins lost USD 27,000 in a hack attack.

December 19, 2017 YouBit was breached, unknown amount of crypto was stolen.

June 27, 2017 Bithumb the South Korean crypto exchange got hacked and all of it’s clients data (including their names, mobile phone numbers and email addresses) where stolen.

April 26, 2017 Yapizon the South Korean exchange lost 3831 BTC in a hack attack.

October 13, 2016 Bitcurex Polish bitcoin exchange got hacked and lost $1.5m in crypro. At that time Bitcurex was the biggest bitcoin exchanges serving the European market.

August 2, 2016 Bitfinex lost $72 million in a hack attack.

June 30, 2016 ShapeShift was hacked three times in two weeks and lost around $200K in crypto.

May 9, 2016 Gatecoin lost 185,000 Ether and 250 BTC in a security breach.

May 22, 2015 Bitfinex Hong Kong based crypto exchange lost 1400 in a hack attack.

February 18, 2015 KipCoin lost 3000 BTC in a hack attack.

February 14, 2015 BTER the Chinese based crypto exchange lost lost 7170 BTC in a security breach.

January 4, 2015 Bitstamp lost 19000 BTC in a security breach.

July 29, 2014 Cryptsy lost 13,000 BTC and 300,000 LTC in a security breach.

July 14, 2014 MintPal lost uknown amount of crypto in a hack attack.

March 11, 2014 Crypto Rush lost 950 BTC and 2500 LTC in a security breach

March 4, 2014 Poloniex lost 97 BTC in a hack attack.

March 2, 2014 Flexcoin lost 896 BTC in a security breach.

February 17, 2014 Picostocks lost 5896 BTC in a hack attack.

February 7, 2014 Mt.Gox got hacked for the second time and lost 740,000 BTC (6% of all bitcoin in existence at the time).

October 23, 2013 Inputs.io 4100 BTC were stolen.

May 10, 2013 Vircurex lost 1454 BTC 225,263 TRC 23,400 LTC in a single hack attack.

September 3, 2012 Bitfloor lost 24,000 BTC in a hack attack.

July 2012 Bitcoinica got hacked for the third time and lost 40,000 BTC.

May 2012 Bitcoinica got hacked for the second time and lost 38,000 BTC.

March 2012 Bitcoinica got hacked and lost 43,554 BTC.

October 5, 2011 Bitcoin7 exchange was hacked and it’s clients data were stolen.

June 19, 2011 Mt.Gox got hacked and lost $8,750,000 in crypto.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]

Altcoins

P2P NFT Trading Platform Faces Breach: Users Urged to Take Immediate Action

MNabilAli

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NFT Trader, a peer-to-peer (P2P) trading platform, recently experienced a security breach leading to the unauthorized transfer of significant NFT assets. The attacker, identified as 0x90…8fda, successfully made off with 37 Bored Ape Yacht Club (BAYC), 13 Mutant Ape Yacht Club (MAYC), 4 World of Women, and 6 VeeFriends NFTs, collectively valued at 1,080 ETH (approximately $2.4 million). Users are strongly advised to promptly revoke any authorization granted to the platform.

Initial reports, shared by Chinese crypto news reporter Colin Wu on social media, indicate that the pilfered NFTs were sent to the address 0x909F2159780e64143CF08f32dBBF56Ed19478fda (link to tweet). An on-chain message from the address holder, claiming the role of a “scavenger,” refutes allegations of hacking the P2P trading platform. Instead, they assert rescuing the NFTs with the intention of returning them.

Further information reveals that the alleged real hacker’s address is 0x3dc115307c7b79e9ff0afe4c1a0796c22e366a47b47ed2d82194bcd59bb4bd46.

NFT Trader has acknowledged the security incident and disclosed that the attack targeted old smart contracts. In response, the platform is advising users to remove delegations via Revoke.cash from the following addresses:

  • 0xc310e760778ecbca4c65b6c559874757a4c4ece0
  • 0x13d8faF4A690f5AE52E2D2C52938d1167057B9af

Despite being relatively unknown among NFT traders, NFT Trader’s website identifies its CEO as John Pak, collaborating with co-founders Mattia Migliore and an individual using the pseudonym “Bruckzr” (link to tweet).

On social media, an NFT collector (@dingalingts) has urged traders to “revoke approval to their contract ASAP” for those who have engaged with NFT Trader previously. The stolen digital assets, which exceed $2 million in value, include 37 BAYC, 13 MAYC, 4 World of Women, and 6 VeeFriends.

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Bitcoin

How To Protect Yourself from Common Crypto Scams

MNabilAli

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With the recent failures of traditional banks, an increasing number of individuals are turning to cryptocurrencies in search of enhanced financial security. With the potential for financial gains, it is essential for individuals who are investing in cryptocurrencies to be aware of the various scams prevalent in the crypto world and take proactive measures to protect themselves. In this article, we will discuss practical steps you can take to safeguard your investments and avoid common crypto scams.

Avoiding Investment Opportunity Scams

For crypto enthusiasts interested in venturing into investments, it is imperative to be informed and exercise caution, as investment scams can take on numerous disguises. Many scammers will approach individuals, presenting enticing investment opportunities promising significant returns.

When considering investment opportunities, it is crucial to be wary of websites that guarantee zero risks, promise exorbitant profits, or contain misspelled words and suspicious links. If you choose to explore investment possibilities, remember to only invest funds that you can afford to lose.

Guarding Against Social Media Scams

Scammers often exploit the presence of crypto users on social media platforms. They may reach out via private messages, offering investment opportunities, romantic relationships, or giveaways. Some of these crypto scammers may impersonate reputable crypto companies, influential figures in the cryptocurrency space, or even celebrities.

If you receive a message on social media from someone whom you suspect to be a crypto scammer, the best course of action is to ignore it. Check the profile for signs of fakeness, such as a low follower count or an unverified account, and report it.

It is also essential to be aware that certain crypto influencers can be hazardous, as they may promote unregulated forms of cryptocurrency and tokens that can result in financial losses for users.

Steering Clear of Rug Pulls

Rug pulls are another perilous form of crypto scam. In a rug pull scenario, developers promote their new crypto tokens, artificially inflating their prices to entice investors. Once the price plummets to zero, the developers vanish with investors’ funds, leaving them empty-handed.

The most effective way to avoid a rug pull is to refrain from investing in tokens developed by unknown or anonymous individuals. Exercise caution with tokens that lack locked liquidity, external audits, or offer unrealistically high yields to investors

Stay Vigilant Against Phishing Attacks

Phishing scams are the most prevalent and hazardous types of scams in the cryptocurrency world. These scams trick users into clicking on links that lead to fake websites, where they are prompted to enter their passwords. Once scammers obtain a user’s password, they can gain access to personal information, including crypto keys, account details, and assets.

To ensure users do not fall victim to phishing scams, it is crucial to access information directly from the official website. Refrain from clicking on unknown links in texts or emails, and only enter passwords on reliable and trusted sites.

Preventing Cryptojacking

Cryptojacking occurs when malicious actors utilize another person’s laptop, phone, tablet, or servers to mine cryptocurrencies without the victim’s knowledge. This typically happens when users click on malicious links in emails or texts, infecting their devices and allowing the perpetrators to mine cryptocurrencies using the victims’ computing power. While cryptojacking often goes unnoticed, victims may experience slower device performance, increased fan activity, or higher electricity bills.

To prevent cryptojacking on your devices, consider installing a reliable cybersecurity program or using browser extensions on platforms like Firefox, Chrome, or Opera that actively block mining activities. Also make sure to install browser extensions from a trusted place.

Trust Your Instincts

If an investment opportunity or offer sounds too good to be true, it probably is. Trust your instincts and exercise caution. Take your time to make informed decisions and never succumb to pressure tactics or fear of missing out (FOMO). Seek advice from trusted experts or consult with a financial professional before making any significant investment decisions.

Use Secure Exchanges

When trading or buying cryptocurrencies, use reputable and secure exchanges. Research the exchange’s reputation, security measures, and user reviews. Look for exchanges that employ advanced security features like cold storage, two-factor authentication, and withdrawal confirmations. Avoid sharing your personal information or login credentials with anyone and be cautious of fake exchange websites designed to steal your funds.

Final Thoughts

By educating yourself, conducting thorough research, securing your wallets, and staying vigilant against potential scams, you can significantly reduce the risk of falling victim to losing your investments. Good luck!.

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Altcoins

Outdated Yearn Finance Contract Hacked, $11.6 Million Stolen in Stablecoins

Lorna Udinese

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On Thursday, a hacker exploited an outdated contract from Yearn Finance, a decentralized finance (DeFi) platform, and stole $11.6 million worth of stablecoins. The attacker managed to create a quadrillion yUSDT stablecoins by exploiting a vulnerability in the code of an old Yearn Finance contract. The tokens were then swapped for various other stablecoins, including USDP, TUSD, BUSD, USDT, USDC, and DAI.

DeFi platforms have been particularly vulnerable to hacking attacks, and Yearn Finance is just one of the many platforms that have suffered such attacks. The hacker in this case managed to take advantage of an outdated contract, highlighting the importance of regularly updating and auditing smart contracts to prevent such incidents.

As reported by PeckShield , after the successful theft, the hacker transferred the funds to other DeFi platforms, such as Aave, where they locked 1.5 million TUSD as collateral to borrow 634 Ether worth $1.26 million. The hacker also sent at least 1,000 Ether to Tornado Cash, a mixing service that is sanctioned by the U.S. Treasury. Tornado Cash is a tool that allows users to anonymize their Ethereum transactions, making it difficult for authorities to track the flow of funds.

Image credit PeckShield Inc.

The theft is just one of the many incidents of crypto theft that occurred in 2022, with blockchain forensics firm Chainalysis reporting that hackers stole at least $3.8 billion in cryptocurrencies throughout the year, the highest recorded total. DeFi platforms suffered more than 82% of the losses, highlighting the need for improved security measures in the DeFi space.

This incident is a stark reminder that the DeFi space is not immune to cyberattacks and that there is a need for continued innovation in security measures to safeguard users’ funds. The rise of DeFi has brought about exciting new opportunities in finance, but it has also created new risks that need to be addressed. Regular security audits, code reviews, and bug bounties are just some of the measures that DeFi platforms can implement to improve their security posture.

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