Crypto fraudsters, especially scammers, prey on naive buyers in the physical world by reading the fine print in contracts.
Understandably, crypto heists pique the public’s interest. The first consideration is the massive amount of money to be stolen—legacy financial organizations are rarely robbed of such large sums of money. Second, because cryptocurrencies have only lately piqued the public’s interest, any hack is bound to generate headlines.
On top of that, hackers have discovered that stealing cryptocurrency is more straightforward than stealing cash or electronic money in the banking system. As a result, it is becoming more widespread. Moreover, as cryptocurrency is commonly stored in huge sums and can be transferred instantly and anonymously from anywhere using only a private key or passcode, crypto hackers target it.
Let’s take a look at the biggest crypto thefts of all time in this article. Also, the article will outline why crypto exchanges keep getting hacked; why are crypto heists getting larger and what we can do to protect ourselves from crypto heists.