Today's video is a journey through the darkest moments of the crypto world. Join Followin in reviewing the 10 biggest hacks in history that have shaken the crypto market.
Top 10 is Kucoin Hack - $285 Million
In September 2020, Kucoin was targeted by hackers, suffering a loss of $285 million. Hackers not only exploited security vulnerabilities but also sophisticatedly appropriated assets such as BTC and ETH from the exchange's hot wallet. Remarkably, Kucoin worked with partners to recover 78% of the funds, demonstrating resilience and collaboration in the industry.
Top 9 is DMM Bitcoin Hack - $305 Million
In 2024, the Japanese Bitcoin exchange DMM recorded a serious hack, losing $305 million. The North Korean hacker group Lazarus Group was suspected of being behind the attack. With a strong commitment, DMM decided to buy back the lost Bitcoin and transfer the customer assets, demonstrating its commitment to protecting users.
Top 8: Wormhole hack - $325 Million
In early 2022, Wormhole, a popular cross-chain protocol, lost $325 million due to a fake transaction. This event not only raised concerns about cybersecurity but also highlighted the importance of securing cross- chain protocols.
Top 7: FTX hack - $415 Million
FTX’s collapse was marked by a $415 million hack shortly after it filed for bankruptcy. The shocking aftermath sent shockwaves through the crypto industry, exposing serious weaknesses in the exchange’s management and security.
Top 6: Mt. Gox hack - $450 Million
Mt. Gox, once an empire in the crypto world, lost 850,000 BTC, equivalent to $450 million, due to a security breach between 2011 and 2014. This is perhaps the most famous hack in history as the exchange also handled about 70% of all global BTC transactions in 2013.
Top 5: Coincheck hack - $540 Million
In January 2018, Japanese exchange Coincheck was hacked and lost $530 million worth of XEM Token . The identity of the hacker who broke into its security system remains a mystery. After an investigation, Coincheck revealed that the hacker had accessed their system and stolen XEM Token from the exchange's hot wallet.
Top 4: BNB Chain and BSC Token Hub hack - $570 Million
In December 2022, BNB Chain and BSC Token Hub witnessed a market-shaking attack, with a loss of $570 million. This event not only disrupted the market but also raised questions about the security of the blockchain.
Top 3: Poly Network hack - $610 million
In August 2021, Poly Network was hacked for $610 million, making it the largest hack at the time. Notably, the hacker later returned most of the assets, a rare development in the world of cybercrime.
Top 2: Ronin Network hack - $620 million
Ronin Network, the platform for the game Axie Infinity, lost $620 million in March 2023. In just a few transactions, hackers took a large amount of ETH and USDC, making it the second largest hack in history.
Top 1: Bybit hack - 1.4 Billion USD
The recent Bybit hack on February 21, 2025 was one of the most serious events in the history of cryptocurrencies, with an estimated loss of more than $1.4 billion. Hackers took advantage of a vulnerability in the exchange's multisig Cold Storage system, spoofing the signing interface to fool signers, thereby taking control and withdrawing funds.
These hacks are a harsh reminder of the importance of cybersecurity in the cryptocurrency space. Not only do they cause financial damage, but they also affect user confidence in blockchain technology. So Safety, always comes first.
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