Cryptocurrency Security Threats: Lessons from Top Exchange Hacksby@stylianoskampakis
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Cryptocurrency Security Threats: Lessons from Top Exchange Hacks

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Since the emergence of Bitcoin, the loss due to theft within the system has surpassed $1 billion. As digital currencies become more valuable, the security threats are increasing. The digital nature of Bitcoin makes it vulnerable to hacking. Exchange hacks are by far the greatest threat to crypto security because when they occur, multiple wallets in the network are affected. Binance, the most popular crypto exchange, was breached on May 7, 2019, led to the loss of an estimated 7000 BTC – about $56 million today.

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