Outlook Money
Crypto exchanges and Blockchain networks have faced major security incidents over the years, resulting in digital assets worth hundreds of millions of dollars being lost.
Mt. Gox, once a major Bitcoin exchange in Japan, reported losing hundreds of thousands of Bitcoin between 2011 and 2014 before filing for bankruptcy.
Japanese cryptocurrency exchange Coincheck lost around $530 million worth of NEM tokens in 2018 after hackers gained access to an online wallet.
Ronin Network, which supported the Blockchain game Axie Infinity, lost around $540 million worth of cryptocurrency in a 2022 security breach.
Poly Network reported around $610 million in digital assets moved during a 2021 attack, exploiting vulnerabilities in its cross-chain protocol.
Bybit reported losing around $1.50 billion in digital assets in February 2025 after an attacker gained access to an Ethereum cold wallet. According to Reuters, these incidents rank among the biggest crypto heists since Bitcoin’s launch in 2008.