Oct 2013 - GBL Exchange Exit Scam - $4.1m (China)
"Unfortunately for the GBL investors the exchange turned out to be a con and on October 26 the people behind the scheme absconded with all of the funds"... "Bitcoin reached an all-time high of more than $400 on Wednesday, just weeks after a multimillion-dollar exchange in China disappeared."
Further Analysis
This highlights the importance of mandating transparency and a proper registry for exchanges. The operators claimed to be from Hong Kong, when in fact they were three citizens of mainland China. This actually ended fairly quickly with their arrest within 3 months in December 2013.
More Cryptocurrency Exchange Hacks/Scams/Frauds
BitcoinTalk The Hole Seekers Hack > > < < Canadian Bitcoins Social Engineering Theft
Sources/Further Reading
100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents (Jan 25)
List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses (Feb 15)
Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com (Mar 5)
Worldwide crypto & NFT rug pulls and scams tracker - Comparitech (Dec 31)
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