BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

The Price of Progress: Over $30 Billion Stolen from the Crypto Ecosystem Since 2012

by Dan K
Jul 7, 2023 - 9:27 pm
in Blockchain
Image depicting a digital representation of the CoinsPaid cybersecurity breach, showcasing symbols of cryptocurrencies like Binance and Ethereum.

Over $30 Billion Stolen Since 2012

A shocking revelation comes from the latest SlowMist report, disclosing that more than $30 billion worth of cryptocurrencies has been stolen from 2012 to the present day, scattered across 1,101 documented incidents. This accounts for nearly 3% of the current market cap of all listed cryptocurrencies.

Smart Contract Vulnerabilities Leading the Charge

The blockchain security firm identifies the top five most common types of hacks: smart contract vulnerabilities, rug pulls, flash loan attacks, scams, and private key leaks. These events collectively account for about 2.5% of the present cryptocurrency market capitalization.

A Breakdown of the Incidents

The report further categorizes the incidents, reporting 118 exchange hacks, 217 Ethereum ecosystem hacks, 162 BNB Smart Chain ecosystem hacks, 119 EOS ecosystem hacks, and 85 NFT-related hacks. Of all these, exchange losses were the most substantial, costing over $10 billion in the past decade.

The Changing Pattern of Security Breaches

Notably, security incidents that resulted in losses of over $1 billion reached their peak during the early 2010s and between 2019 and 2021. However, there’s been a noticeable drop in such events from 2022 onwards, echoing findings from other reports.

High-profile Attacks and Recovery Efforts

Major attacks in the early days of Bitcoin included the infamous Mt. Gox and Bitfinex hacks. The Mt. Gox exchange filed for bankruptcy in 2014 after losing 850,000 customer BTCs ($25.2 billion today) through a series of low-key hacks over years. The exchange managed to recover 200,000 BTC ($6.1 billion today) and has been redistributing them to creditors.

In 2016, Bitfinex underwent a security breach that led to a loss of 119,576 BTCs, worth approximately $70 million then and a staggering $3.7 billion today. In a major breakthrough on Feb. 8, 2022, special agents from the U.S. Department of Justice managed to recover 94,000 of the stolen BTCs.

Tags: BlockchainCryptocurrencyDeFiHack
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Exterior of the Czech National Bank building representing its new investment strategy including crypto assets

Czech Central Bank Enters Crypto with Coinbase Stake, Expands Palantir Holdings

July 13, 2025

Czech National Bank adds Coinbase to US portfolio, signaling crypto interest, while expanding Palantir stake amid AI investment...

Changpeng Zhao, Binance co-founder, reacts to Bloomberg’s Trump stablecoin claims

Binance’s CZ Threatens to Sue Bloomberg Over Trump Stablecoin Report

July 12, 2025

CZ denies ties to Trump-backed stablecoin USD1, slams Bloomberg report as defamatory, and warns of legal action over...

Donald Trump in front of WLFI crypto charts showing rising token value

Trump’s Crypto Wallet Rises as WLFI Eyes Open Trading and Market Liquidity

July 12, 2025

Trump’s crypto wallet rose 2.5% as WLFI proposed open trading, a move that could unlock billions linked to...

Malta Financial Services Authority building representing crypto regulation leadership

Malta Regulator Assures MiCA Licenses Safe After EU Peer Review

July 11, 2025

Malta’s MFSA says no MiCA licenses are at risk after an EU review, reinforcing the country’s strong stance...

Press Releases

png 115

BTC Miner: Earn $100-$100,000 Daily – The Fastest Growing Crypto Mining Platform of 2025!

June 25, 2025

BTC Miner, the fastest growing platform in 2025, opens a new era of inclusive cryptocurrency mining, allowing everyone to participate...

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise