Bitcoin History Part 7: The First Major Hack

Hacks and heists have been a menace for so long as bitcoin has been price stealing. By 2011, as Bitcoin was easing into its second yr of life and its first bubble, early cryptocurrency exchanges had been bringing liquidity and value discovery to the nascent ecosystem. On the similar time, they had been offering an outlet for thieves to dump stolen cash, which they proceeded to do by the hundreds.

Additionally learn: Bitcoin History Part 6: The First Bitcoin Trade

No One Remembers the First Major Bitcoin Hack

Sure hacks have gone down in Bitcoin historical past on account of their magnitude and notoriety. Exchanges resembling Mt. Gox and Coincheck are synonymous in the present day with the record-breaking sums stolen from them, which bumped into the a whole bunch of hundreds of thousands of . Others, resembling Bitstamp and Bitfinex, have suffered their very own well-document heists, the recollections of which nonetheless burn brilliant. The first main hack in Bitcoin’s historical…

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