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20-06-2018, 05:34 PM
Cryptocurrency markets are juicy targets for hackers: Timeline
More than US$1 billion in thefts – most of which are unsolved – is becoming a growing concern for would-be participants in the cryptocurrency sector
Bloomberg
PUBLISHED : Wednesday, 20 June, 2018, 2:50pm
UPDATED : Wednesday, 20 June, 2018, 2:50pm
Investors’ shaky confidence in virtual currencies took another hit after crypto exchange Bithumb, ranked seventh in the world by traded value on Coinmarketcap.com, suffered a hack that saw about 35 billion won (US$32 million) worth of coins stolen.
The South Korean exchange became the nation’s second venue in as many weeks to report a theft, triggering renewed fears about the safety of markets that trade and hold crypto assets.
Boosters still present a bullish picture about the future of digital assets. But the more than US$1 billion in thefts – most of which are unsolved – is becoming a growing concern for would-be participants.
Here’s a look at some of the biggest thefts since 2012.
June
Cryptocurrencies lost about US$42 billion in market value in the days after South Korean venue Coinrail said some of its digital currency appeared to have been stolen by hackers, though it did not say how much. While Coinrail is relatively small, analysts said the news triggered knee-jerk selling.
January
Japanese exchange Coincheck said it suffered a heist worth US$500 million. In the wake of the hack, clients withdrew at least US$540 million, and months later the company was sold to brokerage Monex for US$34 million. Turnover on the exchange in April was about 95 per cent lower than in December.
December 2017
NiceHash, a crypto-mining marketplace based in Slovenia, said on its Facebook page that its payment system was compromised and as much as US$63 million worth of bitcoin was stolen. The firm added extra security measures and sought the community’s help to analyse the breach. Youbit said it would file for bankruptcy hours after losing 17 per cent of its assets in a cyberattack. The South Korean exchange had suffered what it called an “accident” in April and its owner encouraged clients to keep their tokens in a safer form. South Korean investigators are looking into North Korea’s possible involvement in the hack.
More details in http://www.scmp.com/tech/enterprises/art...s-timeline
More than US$1 billion in thefts – most of which are unsolved – is becoming a growing concern for would-be participants in the cryptocurrency sector
Bloomberg
PUBLISHED : Wednesday, 20 June, 2018, 2:50pm
UPDATED : Wednesday, 20 June, 2018, 2:50pm
Investors’ shaky confidence in virtual currencies took another hit after crypto exchange Bithumb, ranked seventh in the world by traded value on Coinmarketcap.com, suffered a hack that saw about 35 billion won (US$32 million) worth of coins stolen.
The South Korean exchange became the nation’s second venue in as many weeks to report a theft, triggering renewed fears about the safety of markets that trade and hold crypto assets.
Boosters still present a bullish picture about the future of digital assets. But the more than US$1 billion in thefts – most of which are unsolved – is becoming a growing concern for would-be participants.
Here’s a look at some of the biggest thefts since 2012.
June
Cryptocurrencies lost about US$42 billion in market value in the days after South Korean venue Coinrail said some of its digital currency appeared to have been stolen by hackers, though it did not say how much. While Coinrail is relatively small, analysts said the news triggered knee-jerk selling.
January
Japanese exchange Coincheck said it suffered a heist worth US$500 million. In the wake of the hack, clients withdrew at least US$540 million, and months later the company was sold to brokerage Monex for US$34 million. Turnover on the exchange in April was about 95 per cent lower than in December.
December 2017
NiceHash, a crypto-mining marketplace based in Slovenia, said on its Facebook page that its payment system was compromised and as much as US$63 million worth of bitcoin was stolen. The firm added extra security measures and sought the community’s help to analyse the breach. Youbit said it would file for bankruptcy hours after losing 17 per cent of its assets in a cyberattack. The South Korean exchange had suffered what it called an “accident” in April and its owner encouraged clients to keep their tokens in a safer form. South Korean investigators are looking into North Korea’s possible involvement in the hack.
More details in http://www.scmp.com/tech/enterprises/art...s-timeline
Specuvestor: Asset - Business - Structure.
