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There's no question that exchange hacks continue to plague the nascent digital currency market, and over the weekend the amount of funds pilfered from such venues surpassed a total of $1.3 billion, according to The Block’s research.
The most recent hack, which occurred at Bithumb, resulted in the loss of $19 million worth of EOS and XRP, making it the eighth-largest hack in crypto history.
Of the total $1.3 billion hacked, approximately 61% was taken in 2018. Here's a chart showing the growth in the number of hacked funds via research from our colleague Larry Cermak:
This following graphs shows the 10 largest cryptocurrency exchange hacks:
About Author
Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter.
He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email
[email protected].
