A Review of the Six Major Black Swan Events in the Cryptocurrency World: Which Ones Did You Experience?
1. 2014 Mentougou Incident: The Largest Hacking Attack in History
The world's largest Bitcoin exchange, MTGOX, was hacked, losing approximately 850,000 Bitcoins, accounting for 7% of the total global Bitcoin supply at that time. This event directly led to an 80% plunge in Bitcoin prices, triggering a crisis of trust in the cryptocurrency market.
2. 2017 '9.4' Incident: The Winter of the Crypto Market
In just a few days, the market capitalization of the cryptocurrency market evaporated by 80%. The massive volatility caused significant losses for many investors, exposing the complexity and uncertainty of the market.
3. 2020 March 12 Incident: 'Black Thursday'
Ethereum's price plummeted to below $80 overnight, plunging the crypto market into panic. Nevertheless, many believers still held confidence in the potential of blockchain technology, which became an opportunity for market rebirth.
4. 2021 May 19 Incident: 600,000 Contracts Liquidated, Blood Was Shed
In one night, 600,000 contracts were liquidated, leading to significant losses for investors. This brutal liquidation reminded people once again: the cryptocurrency market is high-risk and highly volatile; a small misstep can lead to total loss.
5. 2022 Luna Black Swan: A Wake-Up Call for DeFi
The collapse of LUNA triggered a systemic crisis in the decentralized finance (DeFi) sector. This event became a major watershed in the cryptocurrency industry and deepened the understanding of the risks associated with algorithmic stablecoins.
6. 2022 FTX Explosion: The Collapse of Trust
The sudden collapse of cryptocurrency trading giant FTX shocked the world. The market subsequently fell into a severe crisis of trust, and the entire cryptocurrency ecosystem suffered a devastating blow.
