Assets, Bitcoin

Has Bitcoin Been Hacked?

When it comes to Bitcoin, the answer to whether or not it has been hacked is a resounding yes – but that doesn’t mean that the virtual currency is in any danger of disappearing. In fact, despite the many high-profile hacks that have been carried out on Bitcoin exchanges and wallets over the years, the currency has continued to grow in popularity and value.

One of the most notable hacks took place in 2014, when Japanese exchange Mt. Gox – which was once the world’s largest Bitcoin exchange – filed for bankruptcy after losing 850,000 Bitcoins (worth around $473 million at the time) to hackers.

NOTE: WARNING: Has Bitcoin been hacked? Be aware that there have been some security breaches involving Bitcoin. While the Bitcoin network itself has not been hacked, some third-party services such as exchanges have been. Therefore, you should take extra security precautions when dealing with any Bitcoin-related services. Use strong passwords, two-factor authentication and only use reliable sources for your information.

Other major hacks have also taken place, including on Bitfinex (which lost 120,000 Bitcoins in 2016) and Coincheck (which lost 523 million NEM coins in 2018).

Despite these high-profile hacks, however, Bitcoin remains a popular and valuable asset. In fact, its price has reached new all-time highs in recent months amid increased interest from institutional investors.

So while it’s true that Bitcoin has been hacked in the past, this hasn’t stopped it from becoming a widely-used and valuable digital currency.

Previous ArticleNext Article