Cryptocurrency gurbosonme: past lessons
The world of cryptocurrencies has grown exponentially in recent years, while Bitcoin and other digital currencies have gained popularity all over the world. However, as with any high -risk investment, the market is not without its own risk. One of the most significant concerns in the cryptocurrency space is hacking: a phenomenon that can cause significant losses to investors.
In this article, we will examine some of the most important theft with the burglary of the history of cryptocurrencies, highlighting the main choices and lessons learned from these accidents. We will also examine the best practices to reduce the risk of victims of these attacks.
Evident cryptocurrency hacks
- Equitito (EQTI) – $ 200 million USD Hack (2017)
2017 June the helpors, the exchange of cryptocurrency and the cash supplier have undergone a significant violation that caused a theft of about $ 200 million. Hackers have exhausted vulnerability in the company’s mobile program to receive access to consumers funds.
Lessons learned:
* Safety vulnerability : The inability of the sequites to repair security holes in its mobile program revealed the invisible data of users and caused great losses.
* Lack of awareness : users may not be aware of potential safety risks, making it easier for hackers to exploit vulnerability.
- Bitconnect – $ 1 billion in hack (2017)
2017 April Bitconnect, a cryptocurrency trading platform, has undergone a serious theft with burglary that caused a theft of about $ 1 billion. The hackers presumably exploited the weaknesses of the company’s software and the user’s authentication.
Lessons learned:
* Complex fraud attacks : hackers used social engineering tactics to enter consumer accounts.
* Lack of strong security measures
: Bitconnect has not added enough security protocols, making it an easy goal for harmful characters.
- COINCHECK – $ 530 million. USD Hack (2018)
2018 January The exchange of Japanese cryptocurrency of Coincheck has undergone a serious violation, causing about $ 530 million. USD cryptocurrency theft.
Lessons learned:
* Using strong security measures : trade owners should implement reliable security protocols to protect consumers’s funds.
* regular monitor operations : regular monitoring can soon help determine suspicious activities.
- paradigm – $ 160 million. USD Hack (2020)
2020 May The exchange of cryptocurrency and the custodian paradigm have undergone a serious violation that caused the theft of about $ 160 million of cryptocurrency theft.
Lessons learned:
* Implement reliable security measures : exchange owners should install different safety levels to protect consumers’s funds.
* Complete regular risk assessments : regular assessments can help identify potential vulnerability and prevent violations.
- Mt. Gox – $ 950 million USD Hack (2014)
2014 January Exchange of Japanese cryptocurrency Mt. Gox has undergone a great crime, which caused about $ 950 million. USD cryptocurrency theft.
Lessons learned:
* To implement strong security measures : exchange owners should install different safety levels to protect consumers’s funds.
* Perform regular audit and risk assessments : regular audits can help identify potential vulnerability and prevent damage.
In conclusion, hacking in the cryptocurrency space is a real concern that requires the attention of investors. Learning from remarkable in the history of hacks, we can reduce the risk of injuries to these attacks. By installing strong safety measures, regular evaluations and informing the latest changes, you can help protect consumers’s funds and prevent violations.
Best risk reduction practice
1
Leave a Reply