avatar
Richard Dang
54,990 Twitter followers
Follow
Posts
avatar
Richard Dang
Thread
It's important to understand that a CEX exchange or project being hacked is always a necessary ingredient to reset the market in every crypto cycle. The 2018 downtrend (following the 2017 uptrend) saw many exchange hacks. Most notably, Coincheck Japan lost $534 million and BitGrail Italy lost $195 million. The 2022 downtrend (following the massive 2021 uptrend) saw a sharp increase in the number of hacked projects and significantly more severe damage. Major events included: 1. Terra Luna $UST $LUNA was depreciated and collapsed, causing over $40 billion in losses for investors. 2. FTX exchange collapses due to bank run, losing over $8 billion. 3. Ronin Network's Bridge $AXS was hacked for $625 million. 4. Bridge Binance BSC Token Hub hacked, stealing over $569 million. 5. Bridge Wormhole $W was hacked for over $326 million. 6. Bridge Nomad was hacked for $190 million. 7. Bridge Harmony $ONE was hacked for over $100 million. In this cycle, we are also witnessing many major hacking incidents, such as: 1. Bybit exchange is expected to be hacked for approximately $1.4 billion in 2025. 2. The Upbit exchange in South Korea was recently hacked, resulting in losses of approximately $30 million. 3. The Perp dex Drift Protocol project on Solana was hacked for $285 million (April 2026). Therefore, Rich wants to warn everyone to be extremely careful in safeguarding their assets at this time. When the panic storm hits, if you only start reacting then, it's often too late. There could be an even bigger crash coming from the downfall of a major project or exchange, enough to push the crypto market back into a bear market this year! twitter.com/RichardDang/status...
FTT
3.3%
loading indicator
Loading..