Paranoia
Cryptocurrencies have come a long way since someone under the name Satoshi Nakamoto wrote a paper in 2008 about how to harness computing power around the world to create a digital currency that can’t be double-spent. Critics question whether crypto is just a fad. They say it uses too much energy and point to all the stiff regulatory scrutiny around it. Paranoia — project addressing misperceptions growing around the celebrated tech in financial circles, blockchain.
2011

The sharp sell-off was largely attributed to security issues at the now-defunct Mt. Gox, a Japanese crypto exchange that traded the majority of Bitcoin at the time. The exchange saw 850,000 BTC stolen due to a security breach on its platform, raising major concerns about the security of Bitcoin stored on exchanges.

2015

The price drop came as the Chinese central bank began to crack down on Bitcoin in late 2013, prohibiting local financial institutions from handling BTC transactions. The cryptocurrency continued plummeting over the next two years, bottoming at around $360 in April 2014 and then dropping even further to hit a low of $170 in January 2015.

2017

The crypto winter kicked off with security issues on Coincheck, another Japanese cryptocurrency exchange. In January 2018, Coincheck suffered a gigantic hack resulting in a loss of about $530 million of the NEM (XEM) cryptocurrency.

2021

The mini bear market of 2021 came amid a growing media narrative suggesting that Bitcoin mining has a problem related to environmental, social and corporate governance (ESG). The global ESG-related FUD around Bitcoin had been exacerbated even further with Elon Musk’s electric car firm Tesla dropping Bitcoin as payment in May, with the CEO citing ESG concerns.

2022

The collapse of Terra caused a domino effect on the rest of the crypto market due to massive liquidations and uncertainty that fuelled a crisis in cryptocurrency lending. A number of global crypto lenders like Celsius had to suspend withdrawals due to their inability to maintain liquidity amid brutal market conditions.

It's time to WAKE up. It hasn’t been enough to halt the immense momentum for crypto, as it’s gone from an online curiosity to a bigger part of the cultural and corporate landscape.