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Definition: crypto hacking


Stealing cryptocurrencies. Crypto hacking is accomplished by rudimentary phishing schemes that lure people to a phony coin exchange as well as by using sophisticated software tools that compromise a coin exchange. Over the past few years, hundreds of millions of dollars' worth of crypto coins have been stolen, most famously the USD $450 million loss from the Japan-based Mt. Gox exchange in 2014 (equivalent to $25 billion in 2020). See phishing, cryptojacking and cryptoshuffler.