5 Bitcoin Scandals You Need To Know


Cryptocity

Photo: Flickr/Tony Webster Photo: Flickr/Tony Webster

Everyone loves a good controversy. Especially if it involves astronomical amount of virtual money vanishing into thin air overnight in so many different ways.

So if you’re looking for some dirt on the top bitcoin scams to have scorched the news headlines, look no further. Here are the top 5. Exchange heists, stolen wallets, mysterious bankruptcies and missing CEOs-we’ve got it all. Welcome to the dark side.

1.Bitstamp hacked

The world’s third largest bitcoin exchange amounting to 6% of all bitcoin transactions had to suspend its operations on January 5, 2015 after less than 19,000 bitcoins were stolen from operational bitcoin wallets were compromised resulting in a $5 million loss. The Slovenia based company reopened operations a week later with extra security processes in place. Co-founder and CEO of Bitstamp Nejc Kodrik said this in his tweet on the day:

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