Recent data shows that cryptocurrency hackers stole $1.7 billion in 2023, down from $3.8 billion in 2022.
I researched 8 major security breaches to explain how many crypto exchanges have been hacked and the impact of these attacks.
The Ronin Network breach stands as the largest attack. Hackers stole $625 million in March 2022 by exploiting security vulnerabilities. North Korean hackers gained access to private keys, allowing them to withdraw massive amounts of cryptocurrency.
The Poly Network experienced a $611 million theft in 2021. The funds were later returned after the hacker claimed the attack was meant to expose security flaws.
Binance lost $569 million in October 2022. Attackers exploited a bridge system that connects different blockchain networks. The breach created unauthorized coins through a programming error.
FTX suffered two significant attacks. The first breach took $477 million during the exchange's bankruptcy in November 2022. A second attack in January 2023 resulted in an additional $15 million loss.
Mt. Gox faced multiple breaches. The exchange lost $400,000 in 2011, followed by a devastating $473 million theft in 2014. These attacks forced the platform to close permanently.
Coincheck lost $534 million in 2018. Hackers targeted the exchange's online storage system. The company survived by repaying affected users with its own funds.
Wormhole's breach cost $325 million in 2022. Attackers found gaps between the platform's testing and live systems. The company had to provide emergency funds to cover user losses.
DMM Bitcoin reported a $305 million theft in 2024. Details remain limited, but investigators suspect North Korean hackers conducted this attack.
These breaches highlight the importance of security measures. Users should protect their assets through offline storage, strong passwords, and verified trading platforms.
