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A bug in a smart contract enabled the hack, highlighting the need for tighter blockchain security. Cryptocurrency Explained With Pros and Cons for Investment A cryptocurrency is a digital or virtual currency that uses cryptography and is difficult to counterfeit. This makes them an attractive target for hackers. Investopedia does not include all offers available in the marketplace. Stay alert to cryptocurrency hacks The FTX hack and its attendant legal drama and media circus�along with the other numerous high-profile cryptocurrency hacks�have demonstrated the need for crypto owners and trades to be aware of possible attacks.
