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Cryptocurrency exchanges and platforms have been prime targets for hackers due to the high-value assets stored in digital wallets. Here’s a look at some of the biggest crypto hacks in history:

1. Mt. Gox Hack (2014) – $460 Million

One of the earliest and most infamous crypto hacks, Mt. Gox, once the largest Bitcoin exchange, lost 850,000 BTC (worth around $460 million at the time) due to security flaws. The exchange collapsed, leaving thousands of users without their funds.

2. Bitfinex Hack (2016) – $72 Million

Hackers breached the security of Bitfinex, a major exchange, stealing around 120,000 BTC (worth $72 million at the time). This led to one of the largest Bitcoin thefts in history.

3. Coincheck Hack (2018) – $530 Million

Japanese exchange Coincheck was attacked in 2018, losing $530 million worth of NEM tokens. The funds were stored in a hot wallet without proper security measures, making it an easy target.

4. Binance Hack (2019) – $40 Million

One of the world’s largest exchanges, Binance, suffered a security breach where hackers stole 7,000 BTC (worth $40 million at the time) through phishing and malware attacks. Binance covered the losses using its emergency fund.

5. KuCoin Hack (2020) – $275 Million

Hackers breached KuCoin’s hot wallets, stealing $275 million in various cryptocurrencies. The exchange managed to recover most of the stolen assets through tracking and security collaborations.

6. Poly Network Hack (2021) – $610 Million

In one of the biggest DeFi hacks, Poly Network lost $610 million when a hacker exploited a smart contract vulnerability. Interestingly, the hacker later returned most of the stolen funds, claiming the attack was done “for fun.”

7. Ronin Network Hack (2022) – $615 Million

The Lazarus Group, a North Korean hacking organization, was suspected to be behind the $615 million attack on Ronin Network, an Ethereum sidechain used for the game Axie Infinity. This was one of the largest thefts in crypto history.

8. FTX Collapse and Alleged Misuse of Funds (2022) – $400 Million

Following the FTX exchange collapse, an unknown entity drained $400 million from the platform’s wallets. Some believe it was an insider job, while others suspect external hackers.

9. Bybit Hack (2025) – $1.5 Billion

The latest and largest crypto hack, Bybit lost $1.5 billion in Ethereum (ETH) from its cold wallet. Suspected to be the work of the Lazarus Group, this breach has raised concerns over exchange security once again.

Lessons from Crypto Hacks

• Use cold wallets: Storing funds offline reduces exposure to hacks.
• Implement strong security: Two-factor authentication (2FA) and anti-phishing measures help protect accounts.
• Stay vigilant: Users and exchanges must monitor suspicious transactions and adopt better security protocols.

Cryptocurrency continues to evolve, but as long as digital assets exist, hackers will look for ways to exploit them. The battle between security and cybercrime is far from over.