Hackernoon logoInfamous Cryptocurrency Hacks that Shook the Crypto World by@gxblocks

Infamous Cryptocurrency Hacks that Shook the Crypto World

The intention of this article is not to scare anyone away from cryptocurrencies but to educate readers on why these attacks happened. Understanding past vulnerabilities enables the blockchain and crypto community to grow stronger and more resilient to cyber-attack attempts. In 2013, Japan-based MT.Gox was the biggest bitcoin exchange in the world, handling 70% of the world’s Bitcoin exchanges. On February 7, 2014, the company stopped all Bitcoin withdrawals to check why there were transaction delays. On June 17th, 2016, someone exploited this DAO exit loophole and siphoned away ⅓ of the DAO's funds.
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