The breaches of crypto security
Cryptocurrency exchanges and wallets have been the target of multiple security breaches, resulting in the loss of millions of dollars worth of digital assets. Some examples of major breaches include:
Mt. Gox: In 2014, the Japanese cryptocurrency exchange Mt. Gox filed for bankruptcy after 850,000 Bitcoins, worth around $450 million at the time, were stolen from its platform.
Coincheck: In 2018, Japanese cryptocurrency exchange Coincheck reported a hack that resulted in the theft of $500 million worth of NEM tokens.
Bitfinex: In 2016, Hong Kong-based exchange Bitfinex lost 120,000 Bitcoins, worth around $72 million at the time, due to a security breach.
Binance: In 2019, Binance, one of the largest cryptocurrency exchanges in the world, reported a security breach in which attackers stole 7,000 Bitcoins, worth around $40 million at the time.
Cryptopia: In 2019, New Zealand-based Cryptopia exchange lost around $16 million in cryptocurrency due to a hack.
Parity Wallet: In 2017, a vulnerability in Parity Wallet's software led to the theft of around $32 million worth of Ethereum from multiple wallets.
These breaches have raised concerns about the security 8of digital assets and the need for stronger security measures for cryptocurrency exchanges and wallets.
It's important to use secure wallets and exchanges, and to keep your own funds in a hardware wallet. And always be careful when you're dealing with crypto-related things.
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