Top 10 Crypto Heists
Nowadays, cryptocurrency thefts are a lucrative business for hackers. The traditional stock market has fought scammers and fraudsters for decades, long before cryptocurrency heists made the front page of media journals. This article reveals some biggest Crypto Heists.
1. Ronin
Hackers have taken over $625 million from the play-to-earn online game, according to the blockchain underpinning Axie Infinity
Axie Infinity used to be a popular game until it was hacked
2. Poly Network
According to Blockchain site Poly Network, on October 10, 2021, hackers who took advantage of a weakness in the system of the global cross-chain protocol stole more than $600 million
3. Coincheck
Hackers attacked the Japanese cryptocurrency exchange in January 2018 and stole NEM tokens worth roughly $530 million
Two Japanese cryptocurrency trade groups merged into a new self-regulatory organization as a result of the breach
4. Mt. Gox
Hackers stole bitcoins from the Tokyo-based exchange that previously handled 80% of the world’s bitcoin trade in 2014, valued at an estimated $450 million
Mt. Gox declared bankruptcy at the beginning of 2014
Some users will be eligible to acquire commemorative nonfungible tokens, or NFTs, according to recent comments made by former CEO Mark Karpelès
5. Wormhole
More than $323 million was stolen from the DeFi protocol, which connects the blockchain Solana with other decentralized blockchain networks, by hackers last month
6. Kucoin
Approximately $275 million worth of cryptocurrencies, according to the Singapore-based cryptocurrency exchange, was taken
Users were reimbursed, according to CEO Johnny Lyu, by recovering $239.45 million through law enforcement and other exchange platforms, as well as $45.55 million from business insurance
7. BitMart
Hackers stole $196 million worth of cryptocurrency from BitMart in December 2021 by stealing a private key that granted them access to two BitMart wallets
On the Ethereum blockchain, hackers stole $100 million worth of different cryptocurrencies, and on the Binance Smart Chain, they stole $96 million
8. Bitgrail
In a hack that cost the small Italian exchange roughly $170 million, about 17 million Nano tokens were lost
Francesco Firano, the company’s creator, was charged with stealing client funds before reporting the theft of cryptocurrency from the exchange
9. Boy X Highspeed (BXH)
For $139 million, hackers attacked the decentralized cross-chain exchange in November 2021
CEO Neo Wang believes that a compromised administrator key was likely to blame for the breach
10. Cream Finance
Hackers broke into Cream Finance, a decentralized financial network, in October 2021 and stole cryptocurrency assets worth an estimated $130 million
By repeatedly taking out flash loans from various Ethereum addresses, the hacker took advantage of a pricing flaw
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DISCLOSURE:
None of these articles constitutes financial advice. Articles are highly summarised to make it easy for the reader and save your time, so please DYOR further before putting your hard-earned money into any product mentioned.
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