The term Bitcoin robbery is used by a lot of people who have been scammed to show how much Bitcoin (BTC) they lost, how they felt etc. In today’s crypto news, we are listing the biggest Bitcoin scams and report the top cases where most BTC was stolen from users.
Bitcoin hackers stealing $500,000 in 2011
In early 2011, a Bitcoin Talk forum user with a nickname @allinvain made over 25,000 BTC from mining. This was a period when BTC was at $20 which made his Bitcoins worth around $500,000. Then, on June 13, he woke up to see a huge chunk of his Balance gone. The Bitcoin robbery victim could have around $250 million right now.
Hackers bring down the world’s (then) largest exchange
A Russian named Alexander Vinnik owned Bitcoin exchange called BTC-e. Even though the law enforcement officials alleged that he knowingly accepted stolen Bitcoins from Mt. Gox – the case went viral in the Bitcoin news then.
‘Bitcoin Savings And Trust’ Scheme Was Shut Down
The Bitcoin Savings And Trust was a classic Ponzi scheme which lured customers with a promise of high returns. Many described it as a Bitcoin robbery and the scheme finally shut down in August 2012 and a year later, the government indicted the main guy behind it – Tendon Shavers.
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Bitfloor suffers a catastrophic attack and loses 24,000 Bitcoins
The Bitfloor exchange was the target of a Bitcoin robbery in September 2012, saying goodbye to more than 24,000 Bitcoins which were then worth around $250,000. The exchange did not have that much BTC in reserve so it was made insolvent by this theft. Even though it resumed its operations a week later, the effort was unsuccessful and the exchange closed its doors for good in April 2013.
A major exchange loses 120,000 in BTC to hackers
In August 2016, the Bitcoin exchange Bitfinex announced that it lost $77 million worth of Bitcoins in a Bitcoin robbery organized by multiple hackers. The company foisted the costs on to users and forced them to take a 36% reduction in the value of their deposits. This has been one of the biggest Bitcoin scams up to date.
If you want to get more information on the latest Bitcoin robberies, keep on reading our blog!
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