Cryptocurrency

Cryptopia, DragonEx, Bithumb: The long list of crypto-exchanges-Hacks 2019

In the course of the year, hackers were able to infiltrate several crypto-exchanges around the world and digital Assets to the value of millions of dollars to take. So at least the official variant.

In spite of the massive losses Bitcoin could shake off the FUD, and its upward trend will continue.

160 million dollars of stolen Kryptos

The new Zealand cryptocurrency exchange-Cryptopia got it this year as the first. The attack took place on the 14. January,, the company immediately announced an emergency maintenance.

15. January, the stock exchange’s Website went offline, the Support and Blog pages. On the same day, Cryptopia announced to have a “security breach suffered, which led to “significant losses”.

Cryptopia announced the Hack

Blockchain data analysis company Elementus estimates the loss of Ethereum and ERC-20-Token to $ 16 million. Later, the company reported that the hackers keep the private key of Cryptopia and other 1.675 ETH could take off.

Then “lost” in March, two cryptocurrency exchanges your money. As first reported in Singapore DragonEX via the official telegram channel that the stock had been compromised transfers and crypto to the value of about 7 million dollars from the wallet.

Then the South Korean stock exchange published Bithumb a Declaration that on 29. The March was held to 13:00 PM UTC a “abnormal withdrawal”. The unauthorized withdrawal led to a loss of $ 13 million for EOS.

The company took full responsibility for the lost funds, because it had the suspicion that it may have for the breach of an inside job traded.

Bithumb this:

“The entire [stolen] crypto currency belongs to the company, and the assets of all members under the protection of a cold wallet.”

Also Binance affected Funds safu

In a similar way Binance, the world’s largest crypto-asset exchange saw daily volume of a security breach of 7,000 BTC, worth about 40 million US dollars. CEO Changpeng Zhao, the Hack got identified about 2 percent of the BTC holdings of Binance.

Zhao:

“Binance will use the #SAFU-Fund, this incident completely cover. There are no User fees are affected.“

In addition, the Singapore-based company announced Bitrue on 27. June in a series of Tweets that a Hacker had exploited a vulnerability in the “risk control Protocol”. The cyber criminals could have access to the personal funds of approximately 90 Bitrue users with crypto-currencies to the value of almost $ 5 million.

A few weeks later, the Japanese stock market lost BITPoint $ 28 million in the case of an attack, of the more than 50,000 users were affected. In a blog post, the CEO of BITPoint, Genki Oda confirmed that 1.225 BTC, 1.985 BCH, 11.169 ETH and 5.108 LTC were stolen. Oda also promised the users to its Kryptos on a 1:1 Basis to reimburse.

Finally, the largest crypto-robbery of the year took place at the beginning of this week. UPbit, one of the biggest crypto currency exchanges in South Korea, reported: 342.000 ETH in value of 51 million dollars were transferred from the Hot Wallet of the exchange in an unknown Wallet.

Lee Seok-woo, the CEO of Dunamu, the company behind UPbit, insured, all losses with corporate values to cover.

Bitcoin remains strong

In spite of the attacks on some of the major crypto-currency exchanges in the industry, Bitcoins remained upward trend is intact. The flagship crypto-currency has risen since the beginning of the year to 120 percent, and signaled further progress.

Now, several technical patterns suggest that the crypto-father to 15,000 U.S. could increase dollars. However, it remains to be seen whether the volume increases to support such an Upward momentum.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.