Visualization of the Top Ten Biggest Crypto Scams and Hacks (a bubble Graph)

intechractive (42)in #cryptocurrency • 6 years ago

Hi CryptoSteemians!

Today I'd like to bring a visualization of the Top Ten Scams in the crypto environment. I took this data from the website CryptoAware.org, which recently presented a list of the most significant crypto hacks and scams. There is no central authority to keep a record of these attacks, so maybe there are a few more out there not even registered yet.

I did this visualization using R language. This is my first visualization, I hope to improve them a lot more, but at least I wanted to show this information in a better way. Cryptocurrency hacks have generally become more common and more valuable over time. Remember that the graph represents the value of the cryptocurrency theft at the time it occurred. Even though the size of these hacks is important, keep in mind that the entire cryptocurrency market is worth about $423B right now. So, losing tens of millions to hackers is significant, but these problems won’t cause most people to panic about the security of the crypto-movement and blockchain technology.

In this Bubble grapah we can see the infamous Mt. Gox hack in 2014, the most devastating hack so far. The second-most significant hack happened very recently in a Tokyo exchange called Coincheck, for the somewhat obscure NEM coins.

The only other two cryptocurrency hacks worth more than $100M were Parity’s Ether wallet hack ($160M) and BitGrail’a Nano hack from early 2018 ($170M). The latter is still causing lots of consternation within the cryptocurrency community. All things being equal, the average crypto-hack comes out to about $37M.

Source: @intechractive