Summary # Pure Bit, a South Korean cryptocurrency exchange, orchestrated an exit scam, swindling roughly 13,678 ETH ($2.8 million) from its private investors by promoting the potential for profits through its exchange token, Pure Coin. The platform promised token holders a share of the exchange’s trading revenue and discounted trading fees, enticing investors with the prospect of significant returns. Additionally, the team behind Pure Bit claimed that 90% of the token supply would be burned over three years, suggesting an induced scarcity that could potentially increase the token’s value.
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Summary # In November 2018, AurumCoin (AU), a relatively lesser-known cryptocurrency, was hit by a 51% attack. During the attack, an anonymous entity was able to gain control of a majority of the network’s hash rate, which enabled them to alter the blockchain ledger and perform double-spend transactions. The attack resulted in the loss of 15,752.26 AurumCoins from the Cryptopia exchange, which was valued at approximately $500,000 at the time.
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Summary # Vertcoin, a cryptocurrency that focuses on decentralization, was hit by a 51% attack in October 2018. The attack led to double-spending and the loss of thousands of dollars in assets. The attackers took advantage of the Lyra2REv2 algorithm, which was susceptible to NiceHash-driven attacks due to the availability of hash power for rent. In response to the attack, Vertcoin switched to a new algorithm called Verthash, which aimed to provide better security against similar attacks in the future.
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Summary # In September 2018, Zaif, a Japanese cryptocurrency exchange, has been hacked. During the hack, the attackers managed to steal about $60 million worth of cryptocurrencies from hot wallets. As a result, Zaif’s business was sold to Fisco in order to compensate for the loss of users.
Attackers # The identity of the attackers has not been publicly disclosed. The investigation into the hack was conducted by the Tech Bureau, the parent company of Zaif, and Japanese law enforcement agencies, but no information has been released regarding the identity of the perpetrators.
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Summary # On June 20, 2018, Bithumb, a South Korean cryptocurrency exchange, was hacked for $31.5 million. The attacker gained access to one of the exchange’s hot wallets.
Attackers # The identity of the attacker(s) is unknown.
Losses # 35 billion won ($31.5 million)
Timeline # June 20, 2018: Bithumb announced that 35,000,000,000 KRW worth cryptocurrencies have been stolen June 28, 2018: Bithamb announced that he managed to return part of the stolen funds and the actual amount of damage is 19 billion won ($17.
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Summary # In June 2018, Coinrail, a South Korean cryptocurrency exchange, was hacked. During the hack, the attackers managed to steal about $40 million worth of cryptocurrencies from hot wallets.
Attackers # The identity of the attackers has not been publicly disclosed.
Losses # Coinrail lost 30 percent of the tokens the exchange was housing (nearly $40 million worth), including:
$20 million worth of NPXS $14 million of ATX $6 million DENT $1 million TRON Timeline # June 10, 2018: Coinrail reported a hack.
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Summary # On June 2, 2018, ZenCash, now known as Horizen (ZEN), fell victim to a 51% attack. During this attack, the perpetrator managed to double-spend ZEN coins by gaining control of a majority of the network’s hashrate. The attack lasted several hours and resulted in an estimated loss of approximately 23,000 ZEN, which was equivalent to about $550,000 at that time.
Attackers # The identity of the attacker or attackers who conducted the 51% attack on the ZenCash network remains unknown.
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Summary # Bitcoin Gold was hit by a 51% attack on May 19, 2018. The attackers were able to double-spend 388,000 BTG, worth around $18 million at the time of the attack. Affected exchanges included Bitinka, Bithumb, Coinnest, Bittrex, and Bitfinex, while wallets such as the official Bitcoin Gold wallet and Ledger wallet were also impacted. As a result of the attack, Bitcoin Gold’s value dropped from around $60 to $30 per coin.
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Summary # Verge blockchain fell victim to a hybrid attack, which combined a mining algorithm exploit with a 51% attack. Attackers exploited vulnerabilities in Verge’s mining algorithm and a bug in the retargeting mechanism, allowing them to mine blocks rapidly and accumulate approximately 250,000 XVG coins, worth $1.75 million. The attack began on April 4, 2018, and despite the Verge development team’s attempts to release patches, the issue persisted until April 9, 2018, when a second patch finally resolved the problem.
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Summary # In February 2018, BitGrail, an Italian cryptocurrency exchange, fell victim to a devastating hack, resulting in the loss of approximately $170 million worth of Nano (XRB) tokens. This article delves into the details of the attack, the perpetrators involved, the losses incurred, the timeline of events, and the security failure causes that allowed such a significant breach to occur.
Attackers # The identity of the attackers in the BitGrail crypto hack remains uncertain.
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