In the previous piece, we looked at some interesting numbers around cryptocurrency from India and the world. Amidst growing popularity of cryptocurrency, cases of heists are also increasing, resulting in loss of millions of dollars across the globe. Let’s take a look at some of them.
Crux of the Matter
Heist in South Korea
Ethereum worth $49 million stolen from South Korea-based Upbit.
Cryptos worth $13 million lost from South Korea-based Bithumb.
Heist at Binance
Bitcoin worth $40 million lost from one of the world’s largest cryptocurrency exchange Binance.
Heist in Japan
Cryptos worth $30 million lost from Japan-based Bitpoint.
Heist in United Kingdom
Ripples worth $9.5 million lost from UK-based Gatehub.
Heist in Singapore
Cryptos worth $7 million hacked from Singapore’s DrangonEX.
Cryptos worth $5 million stolen from Singapore’s Bitrue.
Heist in Vietnam
Cryptos worth $500,000 were stolen from Vietnam based Vindax.
Heist in Italy
Cryptos worth $70,000 stolen from Italy-based Altbit.
Stay tuned to our channel to know more about the legal, economic, financial, social, and technical aspects of cryptocurrencies.
- ‘Pi’ is the first digital currency that can be mined on our phones. The digital currency is developed by 2 Stanford PhDs and an MBA; and has gained over 8 million users in less than 2 years.
- In 1996, the National Security Agency published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash, describing a Cryptocurrency system, first publishing it in an MIT mailing list and later in 1997, in The American Law Review.
- David Lee Chaum is a computer scientist and cryptographer. He is known as a pioneer in cryptography and privacy-preserving technologies and widely recognized as the inventor of digital cash. His 1982 dissertation “Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups” is the first known proposal for a blockchain protocol.