Since 2012, 48 burglaries have been recorded. The most common way of stealing assets from #exchanges was hacking of hot #wallets.

Here are the top 3 cryptocurrency theft cases:

#Mt.GOX : Mt.Gox was one of the largest cryptocurrency exchanges in the world until its collapse in 2014. The exchange reported the theft of more than 850,000 bitcoins, which was about 7% of the total Bitcoin volume at the time.

#Bitfinex : In 2016, Bitfinex, one of the largest cryptocurrency exchanges in the world, reported the theft of over 120,000 bitcoins. The value of the stolen funds at that time was about 72 million US dollars. The exchange has implemented security measures and developed a repayment plan to compensate its users for losses.

#Coincheck : In January 2018, Japanese cryptocurrency exchange Coincheck reported the theft of more than 500 million units of the NEM (XEM) cryptocurrency, worth around $530 million at the time.

The deadline for #Mt.GOX creditors to submit their payback information has officially passed, making it possible to make payments.

The repayments are anticipated to be made in a combination of #cryptocurrency and fiat money and to be disbursed via a number of financial institutions, including cryptocurrency exchanges. Pursuant to a letter from the Mt. Gox Trustee dated April 7, the repayments will be made up of base, intermediate, and early lump sum payments and will be made up until the deadline of October 31.

The Trustee has stated that in order to make sure that the payments are made to creditors as quickly as possible, he will cooperate with the list of financial institutions. Due to the essential preparations that must be completed, he has also stated that "it is expected to take some time before the repayment is commenced." The Trustee also made note of the possibility of an extension of the repayment date with the Tokyo District Court's approval.

It is significant to remember that Mt. Gox plans to release a portion of its holdings of 69 billion Japanese yen ($523 million), 142,000 #bitcoin ($3.9 billion), and 143,000 Bitcoin Cash ($17.9 million). This indicates that the loss-related compensation for creditors will now be paid.

Each Creditor shall be paid in yen the first 200,000 yen of each Creditor's Claim. If their claim exceeds this amount and they opt for cryptocurrency and cash, they will eventually receive a mixture of roughly 71% cryptocurrency and 29% cash. For the Mt. Gox creditors who have been waiting for years to get the money that is owed to them, this is a huge development.

This news is republished from https://coinaquarium.io/

After a long and winding saga, Mt. Gox, the once-dominant crypto exchange ravaged by a massive hack in 2014, is finally initiating repayments to its customers. This means that after nearly ten years, those who lost their Bitcoin in the breach might finally see some light at the end of the tunnel.Reports are emerging from Mt. Gox customers on Reddit that initial payouts have begun, with some receiving yen deposits via Paypal. However, it seems the process isn't yet universal, as those opting for bank transfers haven't witnessed any movement yet.This is a momentous occasion for the crypto community, not just for the affected customers but also for the market as a whole. Mt. Gox's hack, which saw 850,000 Bitcoin stolen (now worth a staggering $36 billion), sent shockwaves through the nascent digital asset space. The exchange, once the largest globally, was forced to file for bankruptcy, leaving victims in limbo for years.UBS reports that the repayment process for the stolen Bitcoin is unlikely to have a significant impact on the market. The recovered funds represent only a fraction of the total amount stolen, and their gradual release over time should prevent major price swings.Mt. Gox customers will finally receive compensation, providing closure & a chance to move forward.Follow CoinRocco for more :)#Mt.GOX #NFP #BTC #ARB #sol $BTC $ETH $SOL