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Over $11 Billion Has Been Hacked from Crypto Exchanges, New Timeline Reveals
Published: Jan 22,2020Data calculated by InsideBitcoins shows that over $11 billion worth of cryptocurrencies has been stolen in different exchange hackings. From 2011, hackings have mainly affected cryptocurrency exchanges, wallets, and mining platforms.
The biggest platform to suffer a significant hacking was Tokyo’s Mt.Gox cryptocurrency exchange. The exchange suffered two hacks in 2011 and 2014 losing approximately 2,000 BTC ($17.2 million) and $6.5 billion worth of Bitcoin (740,000 BTC) respectively.
In 2012, losses in blockchain hacking resulted stood at over $1.2 billion.
Bitcoinica, a platform that enabled leveraged speculation in its contract-for-difference (CFD) market against the Bitcoin to USD exchange rate lost about $1.05 billion (740,000 BTC) across three months.
Come 2013, hacking resulted in the loss of $109.6 million with the PicoStocks platform being the most affected $62 million (7,196 BTC).
The biggest heist from a cryptocurrency hacking was in 2014 with $6.6 billion worth of cryptocurrencies vanishing. The affected exchanges were Mt.Gox which lost at least $6.5 billion worth of Bitcoin (740,000BTC).
Overall, about $225 million was lost in blockchain hackings across 2015 with Bitstamp exchange among the most affected platforms. In 2016, only two hackings stood out with the sum of lost funds amounting to over $1.6 billion. The Dao and Bitfinex exchange become the worst hit. According to the report :
"In the history of blockchain, 2019 recorded the highest number of hacks with at least eight cryptocurrency exchanges suffering hacks."
In 2019, cryptocurrency exchanges lose more than $104 million worth of digital assets including the infamous 7,000 BTC ($60.5 million) hack at Binance.
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