Hackers and warning‼️
When people refer to “hackers in crypto trade,” they typically mean individuals or groups exploiting vulnerabilities in the cryptocurrency ecosystem to steal funds or manipulate markets. Here are some of the most common forms of hacking in crypto trading:
1. Exchange Hacks
Hackers breach cryptocurrency exchanges to steal users’ funds or data. Major examples include:
• Mt. Gox (2014): Over $450 million in Bitcoin stolen.
• Coincheck (2018): $530 million in NEM tokens stolen.
• FTX (2022): While not a traditional hack, suspicious fund withdrawals occurred during its collapse.
2. DeFi Exploits
Decentralized finance platforms are often targeted due to bugs in smart contracts:
• Reentrancy attacks (like the infamous DAO hack in 2016).
• Flash loan attacks: Using instant loans to manipulate prices or exploit arbitrage.
3. Phishing Attacks
Hackers trick users into revealing private keys or credentials using fake websites, emails, or social media messages.
4. Rug Pulls & Scams
Developers launch a fake crypto project, get investors to buy in, and then disappear with the funds. This is common in meme coins or unaudited DeFi projects.
