Biggest Crypto Hacks of All Time
The cryptocurrency industry, despite its promise of decentralization and security, has been plagued by major hacks over the years. Some of the biggest crypto breaches have resulted in billions of dollars in losses.
One of the earliest and most infamous hacks was the Mt. Gox breach in 2014, where hackers stole 850,000 BTC (worth around $450 million at the time). This led to the exchange’s collapse and years of legal battles.
In 2022, the Ronin Network hack shocked the crypto world when cybercriminals stole $625 million in Ethereum and USDC. The attack was linked to North Korean hackers, highlighting concerns about state-sponsored cybercrime.
Another massive breach involved the Poly Network in 2021, where hackers exploited vulnerabilities and stole $610 million in assets. However, in a surprising turn of events, the attacker returned most of the funds, claiming they wanted to expose the system’s weaknesses.
The Coincheck hack of 2018 saw hackers siphon $530 million in NEM tokens from the Japanese exchange, making it one of the biggest crypto heists ever.
More recently, the FTX collapse in 2022 involved an alleged insider job, with around $400 million drained from the exchange shortly after it declared bankruptcy.
These hacks highlight the vulnerabilities in crypto security and the need for stronger regulations and safeguards. As the industry grows, ensuring better protection against cyber threats remains a
top priority.
