Home News Bad Code Has Lost $500 Million of Cryptocurrency in Under a Year

Bad Code Has Lost $500 Million of Cryptocurrency in Under a Year

0
SHARE

Cryptocurrency can be lost in a variety of ways, from hacking to forgotten passwords and failed flash drives. But in dollar terms, one of the biggest causes of crypto losses is bad code, and it’s not usually the fault of the coin’s developers. Instead, third parties, including shoddy smart contract developers and shady exchanges, are to blame for losses that have reached half a billion dollars in the last seven months.

Also read: Cryptocurrency Exchange Bitgrail Suspends Operations After ‘Losing’ $170 Million of Nano

Bitgrail Gets Railed for Dodgy Code

Last week, news.Bitcoin.com reported on the demise of Bitgrail, which contrived to lose $170 million of nano cryptocurrency. While the precise sequence of events that caused the catastrophic collapse of the exchange with the assets of thousands of customers is still being confirmed, poor code is being blamed.

Read More

Crypto Hunt provides the latest breaking news and videos straight from the digital currency industry. Join our 5k+ Facebook community today goo.gl/Yu3YYp
Ledger Nano S - The secure hardware wallet