Crypto Chaos: The Top Exchanges That Got Hacked and Shocked the World!"
The crypto world is a wild ride, high rewards, high risks, and sometimes, jaw dropping hacks. Billions have been swiped from some of the biggest names in the game, proving no one is immune. Here is a quick rundown of the top exchanges that learned the hard way: security is everything.
Mt. Gox - The OG disaster. In 2014, this Japan based giant lost 850,000 BTC worth $473 million then, but over $80 billion today. Hackers siphoned funds for years before the collapse. Lesson? Hot wallets are a hacker’s dream.
Coincheck - Japan struck again in 2018 when $534 million in NEM coins vanished. A hot wallet blunder left 230,000 users reeling. The exchange survived, but trust took a hit.
Binance - Even the king isn’t safe. In 2019, hackers nabbed $40 million in BTC. Binance’s insurance fund saved the day, but it was a wake up call for the world’s biggest exchange.
KuCoin - In 2020, $281 million was snatched, allegedly by North Korean hackers. Quick action recovered most of it, but it’s a stark reminder: exchanges are prime targets.
Bitfinex - Back in 2016, $72 million in BTC got stolen thanks to a security flaw. Refunds came via equity, and the culprits? Two brothers, later busted by the feds.
FTX - Post bankruptcy in 2022, $415 million disappeared in a mysterious hack. Insider job or opportunists? The jury’s still out, but users are fuming.
Crypto’s allure is undeniable, but these breaches scream one truth: “Not your keys, not your coins.” Cold storage, anyone? Stay safe out there, this rollercoaster won't slow down!
