TOP 5 Largest Cryptocurrency Hacks in History

The cryptocurrency industry is still in its formative stage, and its highly complex technologies are not always adequately protected. In addition, inexperienced users often make serious mistakes in securing their assets. This creates various opportunities for skilled hackers to gain access to both cryptocurrency exchanges and private crypto wallets. The most notorious thefts have amounted to tens of millions of dollars.

1. Cryptocurrency Company Bybit

Stolen: $1.5 billion in ETH (Ethereum)

The hack occurred on February 21, 2025, when the crypto exchange Bybit reported that attackers had stolen assets from its Ethereum wallet. The Dubai-based platform lost a staggering 400,000 ETH within minutes due to a leaked private key in its hot wallet system (crypto wallets connected to the internet). Hackers exploited security vulnerabilities to withdraw the assets. This incident is currently considered the largest theft in the history of the cryptocurrency industry.

2. Blockchain Project Ronin

Stolen: $615 million

On March 23, 2022, attackers stole approximately 173,600 Ethereum tokens and 25.5 million USDC from the Ronin network. It was later revealed that the hacker had gained access to stolen private keys required to manage the crypto assets, allowing them to withdraw the funds.

3. Exchange Service Coincheck

Stolen: $534 million in NEM

In January 2018, hackers breached Coincheck and stole NEM cryptocurrency. The exchange immediately suspended all operations, but the damage had already been done. Coincheck admitted it might not be able to fully compensate users for their losses. The attackers used a phishing attack to infiltrate the hot wallets and then installed malicious software to transfer the assets.

4. Cryptocurrency Exchange FTX

Stolen: $477 million in various cryptocurrencies

In November 2022, crypto exchange FTX filed for bankruptcy due to mismanagement, embezzlement of assets, and hacking attacks. On November 11 of the same year, a hack resulted in the theft of $477 million worth of cryptocurrencies. The incident is believed to be linked to insider actions.

5. Bitcoin Exchange Mt. Gox

Stolen: $460 million in BTC (Bitcoin)

Japanese exchange Mt. Gox, once the global leader in its field, was first attacked in 2011, losing $8.75 million worth of Bitcoin. Despite promises to improve security, the platform suffered a much larger breach in 2014. Hackers stole $460 million in Bitcoin, using a flood of fake transactions to overwhelm the system. This incident became one of the first major hacks in Bitcoin’s history.

As we can see, attackers use a variety of methods to gain access to others’ crypto wallets. However, the most common causes include phishing, theft of private keys, and exploitation of smart contract vulnerabilities. Experts emphasize that the lack of proper regulation and low user awareness contribute to such incidents. These risks can be mitigated by implementing enhanced cybersecurity measures and two-factor authentication.