<center>*Cryptocurrency is a revolution of our time. We have experienced exponential growth of Cryptocurrency in 2016 and 2017. Bitcoin price increases from $1000 to $20000 in 2017. We have also experienced the growth of Cryptocurrency exchange. Unfortunately, we have seen hacking of crypto exchange.*</center> 

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> A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions - Wikipedia

850,000 Bitcoin were stolen from Japanese based exchange, Mt. Gox. Recently, Coincheck revealed that $435 million worth of NEM were stolen from its exchange. South Korean exchange, Youbit, Hacked twice. It is lost 17% of their crypto assets. Both of them filed for bankruptcy. 

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Though Coincheck said in a statement that they will compensate the investors, Security of the Cryptocurrency remains a big issue. We have experienced millions of dollars crypto hack, Still, hackers are able to steal the money. Where is the state of the art security system?

Is there any solution for Cryptocurrency hack? Some revealed that Decentralized Crypto exchange can be a solution. Till now, DEX is not popular enough. Still, We believe in centralized crypto exchange.

# TARGET ICO

With help of Ethereum, Initial coin offering is an integral part of the Cryptocurrency world. As I have mentioned in my other post, almost $3.7 billion had raised through ICO only in 2017. Unfortunately, Hackers also targets ICO. 

> ICO (Initial Coin Offerings) is an innovative idea to raise fund for a particular project. An initial coin offering (ICO) is a means of crowdfunding centered around cryptocurrency, which can be a source of capital for startup companies.

[Fortune](http://fortune.com/2018/01/22/ico-2018-coin-bitcoin-hack/) revealed that almost 10 percent of all the money raised by ICOs between 2015 and 2017 was stolen in hacks. 

> Roughly 10% of funds raised through ICOs between 2015 and 2017 have been lost or stolen via hacks - According to consultancy firm Ernst and Young

According to the paper, it is learned that Founders of the projects are more focused on attracting investors rather than ensuring security. Hacker is more than happy to take advantage of this situation. 

# What is your opinion regarding Cryptocurrency hack and Security in general? Please leave a comment below

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