Hello all!
This post is just a little reminder about some historical hacks of well-known exchanges. There are other examples but I won't mention them. The figures and prices below are those at the time of the hack.
MtGox (2014): 850,000 Bitcoin stolen = 24,000+ customer accounts closed ....
The exchange closed after the hack. Customers are still awaiting reimbursement.
70% of the world's bitcoins were traded on MtGox. The BTC price has dropped by 33% in less than a month ....
Cryptopia (2019): $16,000,000 of cryptocurrencies were stolen = 900,000+ customer touched...
The exchange closed 3 months after the hack. Customers are still awaiting reimbursement.
I lost money in Cryptopia...
Bitfinex (2016): 119,756 Bitcoin stolen ($ 65,000,000)
BTC lost 5.5% of its value during the day. Fortunately, the funds are saved by BitGo (multi-signature).
Bitfinex was the biggest BTC / USD exchange platform before the hack.
Binance (2019): 7000+ Bitcoin stolen ($40,000,000) = 2% of the total amount of BTC in this exchange
A dedicated reserved of funds for emergency case is financed by 10% of total trading fees: Secure Asset Fund for Users (SAFU)
After the hack, Justin Sun (Tron) injected $40 million of USDT into Binance to buy cryptocurrencies.
