CRYPTO

🪦 The Crypto Exchange Graveyard: 4 Collapses That Erased Billions

Crypto’s short history is already littered with billion-dollar wreckage — exchanges that vanished overnight, funds that borrowed their way into oblivion, and hacks that drained wallets in minutes.

BTC-e

Launch
2011
Death / Exploit
July 2017
Total Loss
~$4 Billion

Yeh crypto history ka sab se secret aur shadowy exchange tha, jisko Alexander Vinnik chalata tha. BTC-e par bina kisi KYC verification ke trading hoti thi, jiski wajah se Mt. Gox ke hacked Bitcoins ki laundering bhi isi platform ke zariye hui.

Celsius Network

Launch
2017
Death / Exploit
July 2022
Total Loss
~$4.7 Billion

Celsius ne "Unbank Yourself" ka naara lagaya aur logon ko unke Bitcoin par 18% tak ka yield dene ka waada kiya. Jab 2022 mein crypto market crash hui, toh unke risky bets doob gaye.

Three Arrows Capital (3AC)

Launch
2012
Death / Exploit
June 2022
Total Loss
~$3.5 Billion

Singapore ka yeh mashhoor crypto hedge fund doosre platforms se hazaron Bitcoin borrow karta tha aur aggressive leverage leta tha. Terra (Luna) crash ke baad unka collapse poore lending market mein domino effect ban gaya.

NiceHash Hack

Launch
2014
Death / Exploit
Dec 2017
Total Loss
~4,700 BTC

December 2017 mein hackers ne NiceHash ke payment system ko breach karke 4,700 se zaiyad Bitcoins drain kar liye. NiceHash survive kar gaya, lekin original funds kabhi wapas nahi aaye.

Lesson

No proof of reserves, no safety — every one of these collapses shares the same root cause in a different costume.

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