2018 February 12 - Volume.2 Issue.6

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2018 February 12 - Volume.2 Issue.6

Goto Full Issue

Cryptocurrency Exchange Thefts Pass $1Bn Mark

Italian based exchange, BitGrail, announced last week the theft of 17Mn Nano coins. The estimated value at the time of theft is between an eye-tearing $175-200Mn, making it the third largest hack in crypto history. But concerns are being voiced by the Nano team that not all is as it seems calling possible foul play by the exchange operators. The developers are awaiting the wallet addresses from BitGrail in order to facilitate a freeze of stolen funds on exchanges. Only 9 exchanges trade Nano at present, but the cryptocurrency has been gaining traction following a rebrand (formerly RaiBlocks) and free transactions.

The BitGrail hack brings the total cryptocurrency exchange thefts well past the $1Bn mark – 60% of which has taken place in the last 15 days alone (see table).

Select Major Heists Take Lions Share of Exchange Thefts

Period Exchange Cryptocurrency USD Value
Jan-18 Coincheck NEM 496.850.000
Feb-14 Mt. Gox BTC 357.500.000
Feb-18 BitGrail XRB 175.000.000
Aug-16 Bitfinex BTC 67.662.140
Other* BTC 31.336.884
Total 1.128.349.024

* See All Exchange Thefts Here: Diar, 29 January 2018

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