Description:

Using Bitcoins has become common today, but hacker attacks have as well. The Bitcoin currency has had continual problems with hacks since shortly after it began in January 2009. Hackers exploited a vulnerability in the programming protocol in August 2010, the result creation of 184 billion fake Bitcoins. However, after finding the bug the transactions were deleted.

Hackers used a security failure on the MtGox Bitcoin exchange, stealing users’ names, passwords, and emails in June 2011. Because members used the same user names on MyBitcoin, it resulted in another attack causing 600 accounts to be hacked and emptied. Consequently, TradeHill and Britcoin suspended the user’s trading accounts. Then Bitomat announced the loss of the wallet.dat file, containing 17,000 bitcoins in July 2011. Another attack in August 2011, on the inoperative MyBitcoin, caused the company to shut down.

The Bitcoin attacks continued, in 2012 with a 46,000 bitcoin theft on Linode in March. Shortly after, hackers broke into Bitcoinica, causing the company to shut down. Later, Bitcoinica closed down its site after two hacks, in March and May. And finally, Bitfloor became the next victim in September, losing 24,000 bitcoins.

In 2013 the hackers worked overtime. Starting in March and April BitInstant, Instawallet, and Bitcoin Central got hacked. Android wallet apps experienced thefts in August 2013, but within two days the problem was corrected. During October BitcoinTalk, Inputs.io and BIPS were hacked. The year ended, with hackers attacking Picostocks and Sheep Marketplace (Bitcoin Stock Exchanges).

Hackers were not as hard-hitting from 2014 to 2016. MtGox closed in February 2014, the next month Flexcoin announced closing due to a hack as well. Bitstamp and Bter were both hit in early 2015. And in 2016, GateCoin and Bitfinex were hacked, as well as Cryptsy exchange filing bankruptcy due to the hacking in 2014.