Today I will talk about the 5 biggest scams in the history of Crypto Currency. So let's find out without delay!

1. MT.GOX (2011) and (2014) -biggest scam

This Exchanger was the world's largest Crypto Currency Exchanger in 2013. After 2 consecutive attacks, the Exchanger was declared bankrupt!
In 2011 ($8.75) million worth of bitcoins were stolen!
Although later they promised to further develop their Exchanger Security System, then again in 2014, a huge theft occurred, about ($615) million worth of Bitcoins were stolen, which is about 800,000 Bitcoins, then Exchanger was declared bankrupt!

2. Kucoin (2020) - Massive heist takes place

Kucoin 2020 Around September ($281) million worth of tokens stolen!
Although later managed to recover almost ($204) million from the attackers!
And exchange users return all stolen funds!

Source

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3. UpBit (2019) - Theft of the Year

In November 2019, UpBit suffered a cyber attack!
The criminals were then able to steal ($45) million from UpBit!
Later, hackers transfer all their money to another account!

4. Binance (2019) – The Biggest Heist

Around May 2019, ($40) million worth of Bitcoins were stolen from Exchanger, which is about 7000 Bitcoins.
Later Binance reimbursed users from their Safu Fund!

5. CRYPTOPIA (2019) - A massive heist that takes place

Cryptopia was founded in 2014! In January 2019, Cryptopia Exchanger suffered the biggest attack ever! About ($15.5) million worth of Crypto was stolen,
According to experts +9% of Exchanger assets are stolen,
This attack was so severe that Exchanger was finally declared bankrupt!

Most were stolen in 2019, which is why this year was a Crypto Currency Bear Market!

Source

To keep Fund Safe for big Exchanger users they keep Fund BackUp in 1:1 ratio called SAFU,
Because in case of subsequent theft, users are returned from the backup fund.
So avoid using all Exchangers and use the Exchangers that have SAFU Fund system!
Like Binance, KuCoin, then Bybit, BitGet,
They deposit in the Safu system!
Which Exchange do you use? Be sure to comment!
All be well, be healthy, Allah-Hafez!