As we embrace a digital world, we need to understand that even with a proactive approach to cybersecurity breaches are still going to happen.
- Japan’s Mt. Gox was hacked in 2014 and 650,000 bitcoins were stolen. Today, they are worth about $9.4 billion dollars.
- Bitfinex, a Hong Kong-based exchange, was hacked in August 2016. About $70 million worth of cryptocurrency was stolen, today worth $1.7 billion.
- Cryptsy was hacked in July 2017 and 11,325 bitcoins were stolen, today worth over $100 million.
- Kraken was also hacked in July 2017, leading to a loss of about $5 million.
- Tether was hacked in November 2017 with cryptocurrency stolen worth over $31 million dollars.
- Nicehash was hacked in December 2017 and about 4,700 bitcoins were stolen, worth about $68 million.
- Coincheck, the self proclaimed “leading cryptocurrency exchange in Asia”, was hacked in January 2018 in the biggest heist to date, losing $530 million of users’ cryptocurrency.
- BitGrail was hacked most recently in February 2018, with the stolen cryptocurrency valuing $170 million dollars.
When it comes to cybersecurity being proactive with a plan is essential but understanding how to react when things don’t go according to plan is equally important. What is your response plan?