The Bitcoin Exchange Thefts You May Have Forgotten
Cryptocurrency exchange losses have been a nuisance since Bitcoin was first created. Many remember the loss of roughly 850,000 BTC in the demise of Mt Gox and the most recent 120,000 BTC Bitfinex compromise. However, over the course of the past eight years there has been various exchange hacks and/or inside jobs. 50+ Cryptocurrency Hacking Thefts Since....
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The role U. S. government agents played in bitcoin thefts at Mt. Gox in 2013 has generated a lot of media coverage recently. But one security firm investigating the Mt. Gox thefts, Tokyo-based WizSec, believes the agents did not play a significant role in the missing bitcoins. The Mt. Gox exchange collapsed in early 2014 and declared bankruptcy. In a recent blog post, WizSec provided an update on its investigation. "First of all: no, we don't think these agents are main characters in the story of the missing MtGox bitcoins, and the story doesn't begin in 2013 either," the blog post noted.....
The growth of NFTs have been a joy to watch. The willingness of many to pay millions of dollars for digital arts is a testament of what a world that continues to go digital could look like. Reports shows that NFT marketplaces and collections grew from $106 million in 2020 to $44.2 billion in 2021. […]
The list of bitcoin thefts is far too long. Over the past, almost, eight years, we can roughly estimate $1 billion or more have been stolen. Each time, there is devastation for the individuals involved and the wider community as bitcoin’s security is brought to the forefront. This is followed by a backlash from the wider media and public who have been keen to disparage bitcoin ever since the first major hack in 2011 when many dismissed it as insecure. But, is there a solution or are we forever to live with these far too frequent theft stories? For bitcoin to function and have any value it....
Digital currency exchange ShapeShift lost as much as $230,000 in three separate thefts over the course of a month, according to an incident report prepared by the service and obtained by CoinDesk. The report comes days after ShapeShift was taken offline following a then-undetailed security incident that resulted in the loss of funds held in the exchange’s connected wallets. ShapeShift later said that it believed the theft was an inside job. According to the report, that employee stole $130,000 from ShapeShift in mid-March. The employee, who was not identified, later sold sensitive security....