- With the recent hack of Bithumb, the all-time total stolen from cryptocurrency exchanges has surpassed $1.3 billion
- Even though the number of hacked exchanges has stayed relatively the same every year, approximately 61% of the thefts were in 2018 alone
- The 10 largest hacks comprise 96.6% of the total stolen amount while the three largest (Coincheck, Mt. Gox and BitGrail) comprise 78.5% of the total
The amount stolen from cryptocurrency exchanges continues to increase sharply, last week surpassing an all-time total of $1.3 billion, according to The Block’s research.
The ecosystem’s largest weakness are the centralized institutions that hold users’ private keys. As the price of cryptocurrencies grew, large wallets controlled by exchanges became a honeypot for hackers.