Hacking

“Hacking” is the act of a hostile third-party cyber-criminal breaking into a computer system or network without authorization. Hacking may be done to steal sensitive data, make money, or for other reasons. Hacking may also be used to deter thieves from committing online crimes.

What is Hacking?
Hacking is the act of compromising or manipulating computing devices or systems by testing or exploiting flaws. Hacking is used for terrorism financing, money laundering, and sanctions evasion.

Bitcoin hacking is particularly important since the blockchain was designed to let people opt out of the conventional system. Bitcoin and cryptocurrency exchanges, custodial services, and wallet software users who store their assets on “hot wallet” software linked to the internet have all been victimized by hackers for years.

The Largest Cryptocurrency Hacks So Far*: 

• Bithumb: $30 Million.
• Coinrail: $37.2 Million.
• BitGrail: $195 Million.
• Coincheck: $534 Million.

*According to Investopedia.