Albeit the year 2019 has been off to a good start price-wise, there have already been numerous incidents casting a dark shadow over this industry. The number of exchange hacks is quite worrisome already and it seems unlikely there won’t be further incidents. The following trading platforms have all noted a breach and loss of funds in one way or another.
Cryptopia Lost Over 9% of its Holdings
In the month of January, everything seemed fine and dandy for cryptocurrency enthusiasts. That situation changed for the worse one the Cryptopia exchange confirmed they had suffered from a major breach. Although the initial reports did not confirm how bad things had gotten, the company later confirmed over 9% of its total holdings were stolen in the process.
It took a while for the company to resume its normal services. In fact trading for most pairs was only resumed two months later, although it could have taken a lot longer as well. To this date, the exact monetary losses of Cryptopia remain a bit unclear, although the $16m figure…