Cryptocurrency | 5 biggest crypto Exchange hacking in 2019


The cryptocurrency began to be widely adopted, as evidenced by the entry of countries and large companies in this industry. But the crypto industry also has a problem that is arguably alarming, the problem is a security problem that can harm the industry itself.

Many crypto exchanges experience hackers and their rates once, but many times from the once small to large. Even though at this time many exchanges have used special technology and security to prevent this occurrence, this problem may still occur again in the future. My hope is not to be there anymore.

In this year there have been several cases of crypto exchange hacking, and the following is the list:

1. Bithumb
Last year Bithumb experienced hacking and lost over 30 million USD. In March, Bithumb experienced hacking, according to the Coindesk report, this time hacking involved insiders.

But in this case, some funds can be recovered through the exchange change now. ChangeNOW acts quickly to freeze the relevant address to prevent about $ 500,000 to be exchanged.

At present Bithumb is taking steps to update its T & C. Exchange exchanges will now require some kind of insurance or reserve fund to ensure that it can cover losses.


2. Binance
In May, one of the biggest exchanges, Binance, experienced hacking and lost 7,000 bitcoin (BTC). However, Binance quickly convinced users that their funds would be replaced through insurance funds, Secure Asset Fund for Users (SAFU) through its posts.

For the attack, Binance Changpend CEO Zhao (CZ) had to be active on Twitter to answer Binance users' questions about the incident.

3. Cryptopia
In January, the Cryptopia exchange experienced hacking and suffered losses of up to 16 million USD. the bourse has temporarily closed the shop for police investigations. In March the exchange was opened again, but with services being reduced and in May filing for bankruptcy.

In addition, in May, there were reports that one of the founders of Cryptopia was building another exchange.

4. Gatehub
Gatehub experienced hacking in June, and hackers stole 23 million XRP. The company suspended all tokens, to prevent greater losses and urged users to take steps to protect their accounts.

Gatehub stated that hackers sent their funds to the Coins, Huobi and ChangeNow exchanges. ChangeNOW made a statement that they had returned 500 thousand XRP.


5. Bittrue
Exchange Burasa from Singapore, Bittrue, experienced hacking in June. Hackers take 9.3 million XRP, and 2.5 million THERE or around 4 million USD. Bittrue released a chat on Twitter to convince users that their funds will be returned.

In this way, Bittrue thanked the Huobi, Bittrex, and ChangeNOW exchanges for their joint efforts to stop the funds being processed.

ChangeNOW confirmed that they had returned the $ 320,000 XRP to Bittrue.

We must take lessons and lessons from the events above, choosing a stock that has more security and does not store large amounts of crypto on the exchange can be a good step.


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Cryptocurrency | 5 biggest crypto Exchange hacking in 2019 Cryptocurrency | 5 biggest crypto Exchange hacking in 2019 Reviewed by sheffter on July 12, 2019 Rating: 5

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