5 Biggest Crypto Money Exchange Scandals

 If you are not a stranger to the crypto money trade, you know that you usually keep your crypt money in your portfolio in your portfolio. These stock exchanges are Internet based, so no matter how powerful their security systems are, they are vulnerable to all attacks on the Internet and there is always a minimal risk for the stealing of your crypto money. In the past, examples of this happened unfortunately, people in the period of serious amounts of crypto money, hackers have passed the hand.

Finally, on our site you   blackwallet  that experienced in the stock market from Lumens Stellar hacking incidents we're talking about. In that case,  400,000 pieces of  Stellar Lumens were stolen from the owners' wallets and passed on to the hackers. Unfortunately, the past hacking events are not limited to this.

Unfortunately, the bad sheriffs of today's cryptocurrency world, hackers. Come on, let's keep a close eye on the biggest 5 hacking events in history together.

5. Tether, $ 30.9 million

When the dates  showed on November 19, 2017  , the Tether stock market experienced a great shock when they wanted to view their portfolio of users. The stock market is different from the others, and if your account has invested 1 dollar, you  were given 1 USDT  coin and you could convert it to the money.So far everything is fine, but on November 19, the hackers who managed to infiltrate Tether's information system managed to  spend $ 30.9 million  worth of crypto money on their accounts. The "thief" who used Bitcoin address for payment also lost track of money transfer.What Happened After? 

 At that time, there was a serious competition between Tether and Bitfinex. Bitfinex has lost many users for various reasons and has started to slip into the portfolio Tether. Tether, which integrates a secure system into the stock market in the face of the allegations that Bitfinex uses the Tether system, has prevented the money in the stolen state from being converted into traditional currencies. However, the panic that took place on that day brought a very serious drop in Bitcoin prices.

4. Ethereum, $ 31 million

Almost 5 years after Bitcoin, Ethereum went on the market in 2014 and soon became the second best crypto currency after Bitcoin.However,  on July 20, 2017  , a hacker managed to infiltrate the system, succeeded in passing all three crypto money in the three Ethereum wallets, and disappeared. That period full of money with  $ 31 million  hacker performs a theft, a total of  153 thousand 37  Etherea I had stolen. The hacker, who succeeded in changing the ownership of the wallets with the software he used, lost his signature.

What Happened After?

The stolen Ethereums were three separate sites. Swarm City, Edgeless Casino and Eternity. The Swarm City executives managed to become names that first recognized theft. Then the Ethereum technical team was informed about the incident and the investigation started.

Then a new series was released from the living. Developers of the system, who realized that they could not replace the stolen money, entered the system and stole all Ethereums from other accounts. Swarm City developers, who have seized all accounts on the site, prevented money from becoming a target for hackers. I mean, they stole the money from the accounts of the users, not the users themselves! In the meantime, all these events took place in a short period of time.

3. NiceHash, 4 million 736 thousand 42 Bitcoin

If you read the number now, you probably do not believe in your eyes, or you think you've had a look at hypertension. But do not be afraid, you are healthy and this event really happened.

Nice hash  company based in Slovenia  , as its name suggests, is a platform where crypto money miners sell or buy energy. The miners do not have any prepayment when they pile up the energy they get. Likewise, the sellers were receiving payments with Bitcoin.

However,  on December 6, 2017, a very serious security breach was detected at the  service providers. Users in Reddit wrote that they could not view the payment on their account and that they could not pay. If they try to log in, they indicate that they meet with a written maintenance work on the site.

The bad news finally came out. The hackers managed to infiltrate the system and get exactly  4 million 736 thousand 42  Bitcoins.

What Happened After?

After the incident that managed to become the subject of this article, which was the most Bitcoin amount stolen in a hacking attack, the outgoing money was not returned. However, Nice Hash managed to stand still and continue to mining operations.

But the bill was heavy. Marko Kobal,  the CEO of the company and the founder at the same time,  announced that he resigned after the incident, leading to a new management team. Later, the company recovered its reputation and continued to serve after the scandal.

2. Bitfinex, 119, 756 Bitcoin

The year 2016 was the year of Bitfinex. At that time, Bitfinex, the largest crypto money market on the planet,  had perhaps the darkest day of its history on 4 August 2016  . A hacker succeeded in stealing 119,000 756  Bitcoins , infiltrating the system  . Bitcoins, hackers who steal directly from the customers' wallet, have crossed a multi-layered firewall in doing so.

The double signature method in the payment method also succeeded in breaking. The system worked like this: Bitfinex had 2 codes in it, and a third code was another company called BitGo. For the transfer of bitcoin, these three codes had to match. After the event, rumors in social media caused a wide variety of speculation that the flaw was in BitGo, but the company shared a text from their social media account saying that the error was not on their server.

What Happened After?

It was gone. Bitfinex demonstrated a highly transparent management approach throughout the entire event. Affected Bitfinex customers have been demanding serious indemnity, and although they have managed to get some of it back in ICO, they have not been able to reach the old money. Bitfinex continues to be traded at this time.

1. Mt. Gox, 744,408 Bitcoin

This is a little different than their counterpart. The other hacking attacks that we told you were based on the fact that a group of hackers or a single person, in general, infiltrated the system servers and paid for their money. However,  the incident on Mt.Gox exchange on June 19, 2011  was different.

A group of hackers who managed to infiltrate one of the site's organizers changed Bitcoin's price to  1 cent. Almost 12,000 times the current value!

After changing the price to $ 1, they initially  brought up to 2,000  Bitcoins. In the meantime, some users have bought Bitcoin in a very large amount without being aware of the fact. The other Bitcoins stolen never returned to the system.

The event has caused an incredible repercussion around the world, although Bitcoin was not so popular at the time. The Japanese-based stock market has reinstated a large amount of stolen Bitcoins to customers after the incident to restore customer confidence, and has recovered its strength in a few years.

However, Mt. Gox's family did not end with that either. CoinLab, a partner in the US allegedly working in the United States  ,  filed a $ 75 million  lawsuit against Mt. Gox  . Later, the court ruled that Mt. Gox was punished for $ 5 million for overtaking the contract, and the company's reputation was in place.

At that time Mt. Bitcoin alone undertook 70% of the trading volume. Gox also started cracking management level with this incident. Reputation has put the company in a difficult position. Once again, the hackers succeeded in infiltrating the system with ease and made the same transactions and made a big impression for that period.

What Happened After?

When it was all over, it cost Mt.Gox a total of 850,000  Bitcoins  . The company declared its bankruptcy after the event had once again been repeated and the tarihe was buried. The size of the incident was so large that the Japanese police arrested the company's CEO,  Mark Karpeles, for  fraud charges. Karpeles was released when it became apparent that he was innocent of his question.

Also Bonus: Bitcoin's Himself!

In 2010, a hacker discovered the deficit in the Bitcoin system. The hacker succeeded in building a single block of chains, and through this block he realized exactly  184 billion  Bitcoin transfers. Yes, you are the right bitch Bitcoin has more to come in history than in the past!

The event took place with the transfer of 2 pieces of 92 billion Bitcoins separately, and the third piece included the shipping fee.

Of course, it was a system failure that was obviously a security breach. Bitcoin executives intervened in the system immediately after a hacker attempted to make a trillion dollars of profits and reset the entire system, ruining the validity of the payment and everything normalized.

So did the hacker succeed in making the transfer? It would probably be a completely different story.