A 36-year-old Austrian man lost over 100,000 euros from his Bitcoin account when he logged into in on the public wireless network. The Austrian police are still investigating the incident as to whether it was hacked before he got into the restaurant and used their unsecured network. This crypto heist is not the first, either.
The latest heist demonstrated the ever-growing anxiety over the security of digital currencies on wallets and using them as a method of payment.
The largest cryptocurrency theft to date was back in 2014 when at the time $620 million of bitcoin was stolen from the Mt. Gox exchange. The exchange’s CEO, Mark Karpeles, is being held still in Japan and is on trial for data manipulation and embezzlement.
In the year of 2017 and as of late there have been a considerable amount of heists. In July the biggest exchange in South Korea, Bithumb, was hijacked and the hackers stole around 1.2 billion won or $1 million USD. Another we reported last week was a cryptocurrency startup named Tether and they had close to $30 million US Dollars worth of Bitcoin stolen.
Just recently, a man in Pennsylvania admitted to authorities that he stole $40 million worth of Bitcoin.
On the rise?
Despite the growing incidents of crypto-crimes, the digital currencies seem to still be growing in popularity among the mainstream community. Ethereum, the second largest cryptocurrency by market value, has hit record highs within the last two days breaking over the $450 mark which is up 2,600 percent from January 2017. Bitcoin has surged from $1,027 in January to now well over $8000.
With the rise of wallet crypto-hijacks, most investors are now moving their digital currencies offline to keep them safe.
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