By Karim Hammam
A security breach at Binance, the world's largest cryptocurrency exchange, has resulted in an estimated $6.3 billion impact, marking the largest crypto heist to date. The exchange said it worked with partners to freeze affected assets, locating about $3 billion so far, with $3.3 billion still unaccounted for. Binance co-founder Yi He stated the company would cover all hacking losses.
Bybit Loses $1.5 Billion in Cold Wallet Theft
In February 2025, cryptocurrency exchange Bybit suffered a theft of digital tokens worth $1.5 billion taken from a cold wallet used for ether tokens, a storage method typically considered more secure because it is kept offline.
Ronin Network Hack Drains $540 Million
In March 2022, hackers stole roughly $540 million from the Ronin Network, a blockchain project linked to the online game Axie Infinity, making off with 173,600 ether tokens and 25.5 million USD Coin tokens.
Wormhole Suffers $320 Million Exploit
In February 2022, the decentralized finance site Wormhole lost $320 million when hackers took 120,000 ether-linked tokens; the crypto arm of Jump Trading later replaced the stolen funds.
Poly Network Hackers Return $610 Million
In August 2021, Poly Network, a platform for peer-to-peer token transactions, was hacked for $610 million, though the perpetrators later returned nearly all of the stolen assets, highlighting vulnerabilities in the DeFi sector.
Coincheck Hot Wallet Breach Nets $530 Million
In January 2018, Tokyo-based exchange Coincheck lost $530 million after thieves attacked a hot wallet stored online; South Korea's intelligence agency suggested a North Korean hacking group may have been responsible.
Mt. Gox Collapse After $500 Million Theft
Between 2011 and 2014, the Tokyo-based bitcoin exchange Mt. Gox, which once handled 80 percent of global bitcoin trade, lost bitcoin worth close to $500 million, leading to its bankruptcy in early 2014 and leaving 24,000 customers without access to their funds.
