SparkDEX lists a history of hacks and a vision of a modern Pompeii
First things first, what's Sparkdex? Oh, you haven't heard yet. Sparkdex is another front-end for the Bitshares network, running on Graphene and aimed at... wait, who is it aimed at? I don't know, but it looks pretty, fast and silky smooth. Perhaps they will provide their own payment gateways as well in addition to OpenLedger gateway, as with my recent encounter with OL issues has me looking for new things.
But oke oke, enough about that, anything built on Graphene is cool. So what's this list that Sparkdex created?
Basically, Smartdex reasons that most of the big cryptocurrency exchange hacks, that we have experienced and heard about, are mainly targeting centralized exchanges. Why? Because of all the funds held in one place, none of the wallet owners really have control of their own funds - it's all in the hands of the centralized exchange.
Mt.Gox - Magic: The Gathering Online Exchange, shortly Mt.Gox, was under attack multiple times, until it became synonymous with the expression of cryptocurrency exchange hack in 2014. Everyone knows the story and fortunes were lost - even when Bitcoin was worth just a fraction of what it is worth now.
Bitfinex - in 2016, $60 million worth of cryptos vanished. Poof. That's it. No-one knows where it went, not even the FBI, who conducted their own investigation into this.
Coincheck, according to Sparkdex, was and still is until today the biggest cryptocurrency exchange hack, that ever took place. This Japan-based exchange managed to misplace 535 million US dollars worth of cryptocurrencies.
The article goes on and list all the majors hacks. Head over there, if you want an interesting read - medium.com/@sparkdex
And boom, out of context I give you this vision of a modern day Pompeii. Author unknown, yet it compares the ancient Pompeii statues of petrified people, who were covered in lava and hot ash so fast, as theyt were doing regular household things, with how people would be petrified today, should a catastrophe like this happen.
Enjoy the rest of your day!
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