Cryptocurrency has revolutionized the financial world, but with innovation comes risk. As the digital currency landscape has grown, so have the attacks on its infrastructure. Below is a look at the top 10 largest crypto hacks by value, showcasing the severity of these breaches:
1. Bybit (2025): $1.5 Billion
In February 2025, Bybit became the target of a devastating attack, marking the largest crypto hack to date. The breach saw the theft of $1.5 billion worth of digital assets. The exchange quickly confirmed the attack was limited to a single Ethereum wallet, with no impact on other wallets or withdrawals.
2. Mt. Gox (2011): 647,000 BTC ($470 Million at the time)
Once the world’s largest crypto exchange, Mt. Gox suffered a hack in 2011, leading to the loss of 647,000 Bitcoin. The hack resulted in a significant blow to the cryptocurrency market, and Mt. Gox never fully recovered.
3. Bitfinex (2016): 120,000 BTC ($72 Million at the time)
Bitfinex, a major exchange, lost 120,000 BTC in 2016 in one of the most significant hacks in cryptocurrency history. The hack was later traced to a vulnerability in the exchange’s multi-signature wallets.
4. Coincheck (2018): $532 Million
In January 2018, Japan-based Coincheck suffered a hack that led to the loss of over $500 million worth of NEM tokens. It remains one of the largest heists involving altcoins.
5. FTX (2022): $415 Million
The collapse of the FTX exchange in 2022 was accompanied by a hack that drained $415 million from its wallets. This breach came amid the firm’s bankruptcy proceedings and the broader collapse of the once-prominent exchange.
6. KuCoin (2020): $280 Million
In 2020, KuCoin lost $280 million in a hacking incident that exploited vulnerabilities in its hot wallets. The company later recovered a significant portion of the stolen funds.
7. WazirX (2024): $235 Million
In 2024, WazirX, one of India’s largest crypto exchanges, fell victim to a hack that saw approximately $235 million stolen. The breach is part of an increasing wave of attacks targeting exchanges globally.
8. QuadrigaCX (2018): $190 Million
The Canadian exchange QuadrigaCX shut down in 2018 after the sudden death of its CEO, leading to the loss of $190 million in user funds. It was later revealed that the exchange had been mismanaging funds prior to its closure.
9. Coinbene (2019): $105 Million
The Singapore-based Coinbene exchange was hacked in 2019, with hackers stealing $105 million in various cryptocurrencies. Coinbene later claimed that the attack was related to an internal issue.
10. Phemex (2025): $69 Million
In early 2025, Phemex was compromised in a security breach that resulted in the theft of $69 million. While smaller than other hacks on this list, it still highlights the vulnerability of exchanges to cybercrime.
The $1.5 Billion Bybit Hack: A Wake-Up Call
The recent Bybit hack has set a grim milestone as the largest-ever breach in cryptocurrency history. With the stolen funds still under investigation, it serves as a stark reminder of the constant threats facing the crypto space. Despite assurances from Bybit’s CEO, Ben Zhou, that customer funds are backed 1:1, the incident raises concerns about the overall security of the cryptocurrency industry, especially as platforms continue to grow in scale.
As crypto exchanges continue to attract more users and investments, ensuring robust security measures is essential to protecting assets and maintaining trust in the ecosystem.
