The 10 Biggest #CryptoHacks in History

part-2

2. #Coincheck: $534 million in NEM (XEM) stolen in 2018 hack

In January 2018, hackers managed to break into the exchange and steal crypto worth $534m. This was, at the time, the largest crypto attack in history. As soon as the breach took place, Coincheck froze all deposits and withdrawals.

However, the damage was already done and the exchange admitted that it may not be able to cover the losses suffered by its users. The attack was followed by a thorough investigation led by Japanese authorities. The hackers had used a phishing attack to access hot wallets. They were then able to spread malware and siphon off the funds.

Further details about the attack were revealed in early 2021 when authorities stated that most individuals involved in the attack were in the high-income group.

Stay tuned for next part