Eventhough the Blockchain technology is more secure than the traditional centralized systems, it is still vulnerable due to fact that the technology is still young. The Poor coding/programming causes security vulnerability within the blockchain based system which makes it easy for the Hackers. Here is the list of top 5 hacks so far this year.

$32,000,000

Parity is a cryptocurrency wallet provider which had a vulnerability after the multisig wallet upgrade which allowed the access to funds from ICOs of Edgeless, Casino, Swarm city and aeternity blockchain. White Hat hackers used the same exploit to drain the funds from other vulnerable wallets to protect them from theft. Eventhough $75 milliion worth of Ether was saved, the hackers still managed to steal $32 million in Ether.

$31,000,000

It is not so clear about this hack but the company claims that close to $31 million were stolen from its coffers after a malicious attack. Startup company Tether says that they are in the process of recovering the tokens. Bitcoin price underwent a short fall due to this hack on November 19th.

$8,000,000

Veritaseum is a cryptocurrency which is designed to build softwares for decentralized captial market trading. Within 2 months after its initial coin offering hackers were able to gain control over its wallet and were able to snatch the coins worth around $8 million.

$7,000,000

CoinDash is a Israelian startup planned to raise the capital by selling their tokens in exchange for Ethereum. Hackers manged to change the Ethereum address in their website into their own within 13 minutes into the token sale. Hackers made $7 million worth of Ether. This incident to similar to the one we saw with DAO in 2016 but in a larger scale.

$500,000

Here before even the ICO could start, Hackers used the credentials of CEO Guy Zyskind to infiltrate into their website, slack group and email list and were able to send messages to subscribers asking for funding. Hackers were able to get away with $500 K worth Ether.