AUGUST 2016 Bitfinex
Bitfinex was yet another Hong Kong-based crypto exchange that suffered the brunt of a malicious hack.
One of the most ironic things about Bitfinex is that it is proclaimed to be the most secure crypto exchange in the world. Until one day, it was not anymore.
The crypto exchange hack resulted in the loss of nearly 120,000 BTC, with a significant impact on customer accounts and funds.
At first, it was puzzling because the company had time and again boasted about its verification and authentication protocols going as far as calling it revolutionary.
In the immediate aftermath, the Bitcoin prices plummeted and customers were understandably exasperated.
Unfortunately, most of the assets stolen could never be recovered.