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39 Cryptocurrency Hacks: $1.93 Billion in Loss Over 5 Years

In this story, we have analyzed the money lost due to crypto hacks, the volume of hacks, the region with the maximum amount of money lost due to hacks, and how can it be solved. It is a fact that cryptocurrencies have opened a new channel for trading, which has been a haven for traders due to the volatility. The exchanges, wallets, and marketplaces involved in trading have benefitted the most as they levy charges such as maker fee, taker fee, deposit fee, and withdrawal fees. However, in spite of having high fees, they lack digital infrastructure security, which has led to hacks and cryptocurrencies being stolen.

One of the primary reasons for such hacks is the lack of the involvement of a central authority, which means there is no clear guidance on t ...

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