The reported $6.3 billion Binance breach may have rewritten cryptocurrency’s record books in dollar terms, but measuring digital heists in bitcoin paints a strikingly different picture. From Mt Gox’s hundreds...
Summary
- The reported $6.3 billion Binance breach may have rewritten cryptocurrency’s record books in dollar terms, but measuring digital heists in bitcoin paints a strikingly different picture.
- From Mt Gox’s hundreds of thousands of vanished BTC to Bybit’s $1.5 billion debacle, history’s largest cryptocurrency thefts demonstrate how the magnitude of a financial calamity can change dramatically depending on the yardstick used.
- Key Takeaways Binance’s reported $6.3 billion breach has eclipsed previous cryptocurrency thefts in dollar terms, but historical bitcoin losses paint a different picture.
- Recoveries, customer reimbursements and the proportion of assets affected complicate the question of which cryptocurrency hack was truly the most damaging.
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