--> Bitcoin Is Easily hacked: Complete List of Cryptocurrency Hacks [2011-2018] – Chapter[2.9] R[23] | Experience Lab - Online business creation and development guide for bloggers and startups

Bitcoin Is Easily hacked: Complete List of Cryptocurrency Hacks [2011-2018] – Chapter[2.9] R[23]

Can you hack cash aka paper currency? Of course you can’t, same is the case with Bitcoin protocol. You can’t hack electronic cash but you ...

Complete List of Cryptocurrency Hacks [2011-2018]

Can you hack cash aka paper currency? Of course you can’t, same is the case with Bitcoin protocol. You can’t hack electronic cash but you can rob a bank or an exchange. Similarly you can’t hack the bitcoin algorithm but you can hack the digital banks (wallets) and exchanges.

The important question to ask here is: Which one is more vulnerable when it comes to security of your wealth: Cash or Bitcoin?

The answer is: Bitcoin is surely the most vulnerable currency ever made in history!

To rob a bank, you need to put your life in danger, team up with a group of robbers and take up guns and explosives but to rob a Bitcoin wallet, you just need a good laptop!
Believe it or not! Just as I was writing, I discovered that on Jan 26, 2018, one of Japan’s largest Tokyo-based digital currency exchange CoinCheck had been hacked, resulting in the theft of $534 million worth of NEM, and making it the biggest cryptocurrency theft in history far bigger than that of MTGOX where $450 million were stolen.

This proves how secure digital currency is. Bitcoin users are undoubtedly constantly subject to theft, scams, and frauds, which is made easier thanks to Bitcoin’s structure and lack of regulation.


Just to give you a bird-view of the popular bitcoin hacks and other cryptocurrency hacks from 2011-2018, I have created the table below to show you the so-called security aspect of cryptocurrencies with facts and figures.

Note: A crypto service is anything that involves cryptocurrencies. It can be a wallet, exchange, marketplace, ICO or even an Investment firm.

Complete List of Cryptocurrency Hacks (2011-2018):

Date Crypto Service Attack Type Coins Stolen Value (USD)
2018
July
KICKICO (ICO) Security breach KICK $8,000,000
2018
July
Bancor
(Decentralized
Exchange)
Security breach Ether $12,000,000
2018
June
Bithumb
(Exchange)
Security breach alt coins $30,000,000
2018
June
Coinrail
(Exchange)
Security breach alt coins $40,000,000
2018
April
Foxbit
(Exchange)
Security breach 58 BTC $540,000
2018
April
CoinSecure
(Exchange)
Security breach 438 BTC $3,300,000
2018
Feb
BitGrail
(Exchange)
Security breach 17,000,000 NANO $195,000,000
2018
Jan
CoinCheck
(Exchange)
Security breach 523,000,000 NEM $534,000,000
2017 Dec NiceHash(Marketplace) Security breach 4,736 BTC $62,000,000
2017
Nov
Optioment
(Investment Firm)
Scam/Pyramid 12,000 BTC $116,000,000
2017 Nov Bitcoin Gold (Wallet) Scam/Inside Job x*x BTC $3,300,000
2017 Aug Enigma (ICO) Security breach 1,500 ETH $500,000
2017 Jul Parity multisig (Wallet) Security breach 153,037 ETH $32,000,000
2017 Jul CoinDash (ICO) Security breach x*x ETH $7,000,000
2017 Jul Veritaseum (Wallet) Security breach 36,000 VERI $8,000,000
2016 Aug Bitfinex (Exchange) User wallets/
Inside job
119,756 BTC $72,000,000
2016 Jul Steemit (Social Site) User accounts multi cryptos $85,000
2016
June
DAO (Smart Contract) Security Breach 3.6 million ETH $50,000,000
2016 May Gatecoin (Exchange) hot wallet/
Security breach
250 BTC + 185,000 ETH $2,000,000
2016 Mar ShapeShift (Exchange) inside job 557 BTC $230,000
2016 Mar Cointrader
(Exchange)
hot wallet/
Security breach
81 BTC $33,600
2015 Feb Bter (Exchange) cold wallet/
Inside job
7,170 BTC $1,750,000
2015 Feb Exco.in (Exchange) cold wallet/
Inside job
2,000 BTC $488,145
2015 Feb Kipcoin (Exchange) cold wallet/
Inside job
3,000 BTC $690,000
2015 Feb 796 (Exchange) cold wallet/
Inside job
1,000 BTC $230,000
2015 Jan Bitstamp (Exchange) hot wallet/
Security breach
18,866 BTC $5,263,614
2014 Dec Blockchain.info (Wallet) user wallets (bug, R values) 267 BTC $101,000
2014 Dec Mintpal (Exchange) inside job 3,894 BTC $3,208,412
2014 July Cryptsy (Exchange) inside job 13,000 BTC + 300,000 LTC $9,580,000
2014 Mar Flexcoin (Wallet) hot wallet/
Security breach
1,000 BTC $738,240
2014 Mar CryptoRush (Exchange) cold wallet/
Inside job
950 BTC $782,641
2014 Feb Mt.gox (Exchange) hot & cold wallets/
Inside job
850,000 BTC $450,000,000
2013 Dec Blockchain.info (Wallet) 2-factor authentication breach 800 BTC $800,000
2013 Nov Inputs.io (Wallet) cold wallet/
Inside job
4,100 BTC $4,370,000
2013 Nov BIPS (Wallet) cold wallet/
Inside job
1,200 BTC $1,200,000
2013 Nov PicoStocks (Exchange) cold wallet/
Inside job
6,000 BTC $6,009,397
2012 Sep Bitfloor (Exchange) hot wallet/
Security breach
24,000 BTC $250,000
2012 May Bitcoinica (Exchange) hot wallet/
Security breach
18,000 BTC $88,200
2012 Mar Linode (Webhosting) inside job 46,703 BTC $228,845
2011 Oct Bitcoin7 (Exchange) inside job 5,000 BTC $25,000

My calculator got stuck/hanged when I tried adding up the total amount of money stolen from bitcoin and ethereum community. Wonder if there is any other example of such vulnerable and bogus currency ever created in mankind’s history.

New security bugs are introduced every day and people are not that responsive to keep themselves updated with security breaches and install patches provided on emergency basis by Microsoft.

Meltdown and Spectre are some latest vulnerabilities that are considered as a serious threat to Bitcoin wallets and exchanges. According to these vulnerabilities’ discoverers:

“These hardware vulnerabilities allow programs to steal data which is currently processed on the computer. While programs are typically not permitted to read data from other programs, a malicious program can exploit Meltdown and Spectre to get hold of secrets stored in the memory of other running programs. This might include your passwords stored in a password manager or browser, your personal photos, emails, instant messages and even business-critical documents.”

Vulnerabilities such as Meltdown and spectre could easily be used to steal your passwords stored on a hot wallet or exchange. No matter how encrypted the wallet be, they provide little to no protection against such hacks. According to CoinKorea post:

“The biggest problem is that if an attacker exploits the vulnerability, it can not be blocked by encryption or vaccination.”

Such bugs will never stop coming and the hackers will always be one step ahead of security agencies in introducing new ways. WannaCry Ransomware attack is the recent example which affected more than 300,000 computers, across 150 countries, causing a loss of billions of dollars. And all that happened within a duration of just 4 days!

If a currency is solely based on technology then it is undoubtedly the most vulnerable bogus currency ever created. The next time someone screams “Bitcoin is invincible and can never be hacked!”. Show them this list!


COMMENTS

Name

Affiliate Marketing,12,Announcement,34,Bing,9,Bitcoin,38,blog,7,Blogger Resources,42,Blogger Templates,4,blogger tricks,156,Blogging ethics,70,Blogging tips,198,Bugs and Errors,34,Business,9,Copyright Violation,9,CSS and HTMLTricks,95,Designs,8,drop down menu,7,eBook,12,Email Marketing,7,Events,30,Facebook,30,Facebook tricks,49,Google,157,Google AdSense,42,Google Analytics,7,Google Plus,51,Google Plus Tricks,38,Guest Posts,112,home,2,How To,77,Internet,1,JSON Feeds,25,Kitchen Recipes,2,Label Based Sitemap Themes,1,Make Money Online,108,Marketing,16,MBT Blogger Templates,7,Menus,1,News,146,Pages,1,Posts,10,presentations,15,Responsive,10,Reviews,7,SEO,307,Settings,6,Shortcode,15,Sitemap Themes,1,Social Media,155,Technology,7,Templates,1,Tips,2,Tools,1,Traffic Tips,80,Video,19,Web Designing,62,web hosting,18,Webmaster Tools,97,Widgets,199,wordpress,26,
ltr
item
Experience Lab - Online business creation and development guide for bloggers and startups: Bitcoin Is Easily hacked: Complete List of Cryptocurrency Hacks [2011-2018] – Chapter[2.9] R[23]
Bitcoin Is Easily hacked: Complete List of Cryptocurrency Hacks [2011-2018] – Chapter[2.9] R[23]
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimjLntSH6yJMXInr8rXEv6nQb5LeB2EwqcUwvds1mXRF1B96VtH3lc9bgpoPKTnNqqrRQglqo3blpnNeZtCja9xFXozkZbxA7c2MkLoCmpr3OgdyD4ra7AQKxv1L67HcWqSo_TLz41BVU/?imgmax=800
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimjLntSH6yJMXInr8rXEv6nQb5LeB2EwqcUwvds1mXRF1B96VtH3lc9bgpoPKTnNqqrRQglqo3blpnNeZtCja9xFXozkZbxA7c2MkLoCmpr3OgdyD4ra7AQKxv1L67HcWqSo_TLz41BVU/s72-c/?imgmax=800
Experience Lab - Online business creation and development guide for bloggers and startups
https://www.experiencelab.info/2018/07/bitcoin-is-easily-hacked-complete-list.html
https://www.experiencelab.info/
https://www.experiencelab.info/
https://www.experiencelab.info/2018/07/bitcoin-is-easily-hacked-complete-list.html
true
2959477579779989044
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy