Cryptocurrency Hacks: From past hours

The cryptocurrency world has become exponent in recent years and Bitcoin and other digital currencies are gaining popularity worldwide. However, as with any high -risk investment, the market is not without risks. One of the most important concerns of Kryptovaluta Square is hacking – a phenomenon that can cause significant losses for investors.

In this article, we get into the most striking hackers in the history of cryptocurrency, highlighting the main takeover and findings of the cases. We also examine the best practices in order to reduce the risk of becoming a victim of such attacks.

Significant cryptocurrency hacks

1
Equiti (EQTI) – $ 200 million hack (2017)

In June 2017, the Equiti Kryptovaluta stove and wallet provider suffered a significant crime, resulting in a theft of about $ 200 million. Hackers used the vulnerability of the company’s mobile application to access user funds.

Learning:

* Safety vulnerability : Equiti was unable to repair security holes in their mobile application sensitive user data and caused significant losses.

* Lack of understanding : Users do not know the potential security risks by using hackers to use vulnerabilities more easily.

• Bitconnect – $ 1 billion hack (2017)

In April 2017, the Kryptovaluta Trading Platform Bitconnect experienced an important hacker, resulting in a theft of about $ 1 billion. He believed that hackers used corporate software and user authentication errors.

Learning:

* Sophisticated phishing attacks : Hackers used social engineering tactics to access user accounts.

* Lack of small security measures : Bitconnect has not introduced the appropriate security protocols, making it a simple goal for participants.

3
Coincheck – $ 530 million hack (2018)

In January 2018, the Japanese cryptocurrencies and Guardian suffered a significant infringement, resulting in cryptocurrencies worth about $ 530 million.

Learning:

Use strong security measures **: Stock owners must implement stable security protocols to protect user funds.

* Regularly monitor transactions : Regular observation can facilitate early detection of suspicious activities.

• Paradigm – $ 160 million hack (2020)

In May 2020, the paradigm, the exchange and guardian of cryptocurrencies suffered a significant infringement, resulting in cryptocurrencies worth about $ 160 million.

Learning:

* Introduce stable security measures : Stock owners need to carry out several layers of security to protect user funds.

* Perform regular risk assessments : Regular evaluations can help identify possible vulnerabilities and prevent violations.

• Mt. Gox – $ 950 million Hack (2014)

In January 2014, the Japanese cryptocurrency stock exchange suffered a Japanese cryptocurrency stock exchange, resulting in a cryptocurrency worth about $ 950 million.

Learning:

* Introduce strong security measures : Stock owners need to carry out several layers of security to protect user funds.

* Regular checks and risk assessments

: Regular checks can help identify possible vulnerabilities and prevent violations.

In summary, hacking in cryptocurrency space raises real concerns that require investors’ attention. If we learn based on the outstanding history of hacks, we can reduce the risk of becoming a victim of these attacks. Introducing strict security measures, regular risk assessment and knowledge of the latest events can help protect users’ funds and prevent violations.

The best practice of risk reduction

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