Crypto Under Attack: The Five Worst Hacks That Shook the Crypto World

In tandem with improvements in technology and security, hackers have started getting more creative with the scams and hacks they carry out.

With their entire presence only existing online, cryptocurrencies are prone to hacking as well, and over the years, we have seen several cryptocurrency hacks and scams take place.

Here is a list of the five greatest hacks of all time.

In just three years, so-called "Cloud mining" - i.e., a web platform where people buy and sell processing power needed to mine Bitcoin - was poorly wounded: A hacker stole approximately 4,700 Bitcoins, which was worth about $64 million at the time of the hack in December 2017, when the leading cryptocurrency's price was hitting record highs around $20,000 per coin.

Bitpoint exchange hacked, wallet attack, $28 million stolenIn July, cryptocurrency exchange Bitpoint revealed that about 55,000 users became the target of a $27.9 million hack.

Back in May 2018, hackers took control of more than 51% of the overall hash power of Bitcoin Gold, more than 388,000 BTG.A method called "Double-spending" was used by hackers to trick the exchange into transferring double the amount of coins than needed.

The exact amount of Bitcoin Gold stolen from Bittrex was not mentioned, but Bittrex had reportedly requested more than 12,000 BTG as a compensation from Bitcoin Gold.These hacks have damaged the reputation of Bitcoin Gold: Earlier, BTG worth $3.3 million was stolen after hackers tricked users into downloading a fake wallet.

These hacks have declined BTG's rank in the crypto market, as it is currently ranked 43rd, according to Coin360.

Apple macOS hack, corporation hack, malware attackNorth Korea is known for its notorious acts, as it continues to exploit the crypto market with illegal activities and constant attempts of hacking various systems.

In recent news, hackers sponsored by North Korea, disguised under the so-called Lazarus Group, tried to hack into Macs via fake cryptocurrency software.