Hacking sustains a significant blockade to the adoption of cryptocurrency. The major target of hackers is the cryptocurrency exchanges, with more than $ 2.2 billion stolen in 2024 and a 17% increase in crypto-related hacks seen from 2023. North Korean hackers have been responsible for about 35% of all crypto-related exploits, taking away approximately $800 million in stolen assets. An estimated 70% of stolen crypto stemmed from infrastructure attacks, focusing mainly on private key thefts.
The largest hack in crypto history took place in February 2025, when leading trading platform Bybit lost 70% of Ether (ETH) holdings in an exploit worth $1.5billion. The hack involved members of the North Korean hacking group Lazarus tricking signees on Bybit’s multi-sig cold wallet into authorizing a malicious transaction that gave the bad actor access to the account containing 401,000 ETH. The hackers proceeded to move the stolen assets through coin mixers to hide their trail, convert them into different assets, and deposit them into various wallets. At press time, Bybit is working on refunding clients who lost their funds to the attack.
This article discusses 5 of the largest crypto heists in history

Explore the shocking stories behind five of the biggest crypto heists in history and how they unfolded.
1. Poly Network
In August 2021, an unidentified attacker exploited a smart contract vulnerability on the Decentralized Finance (DeFi) protocol Poly Network to steal $610 million worth of cryptocurrencies. The hack took place on the platform’s Ethereum, Binance Smart Chain, and Polygon addresses. The main cause of this attack was the mismanagement of the access rights among the two significant Poly Network smart contracts, according to security researcher Kelvin Ficher and cybersecurity firm Slowmist. The exploit was conducted by a white hat hacker who brought attention to the cross-chain liquidity protocol’s security breach and returned all the funds the next day.
2. Coincheck
In January 2018, Japanese crypto exchange Coincheck suffered a hack on its hot wallet that led to approximately $534 million worth of NEM coins being stolen. The hacker exploited Coincheck’s hot wallet, which stored all of its NEM assets. While the stolen tokens could not be retrieved, the exchange managed to reimburse affected customers.
3. Nomad Bridge
In August 2022, cross-chain token bridging platform Nomad Bridge suffered a smart contract exploit that saw approximately $190 million worth of cryptocurrencies being stolen. The cause of the exploit was a smart contract update that caused a bug, allowing the hacker to create fake transactions and take hold of tokens being transferred through the bridge. Nomad Bridge managed to recover $37 million lost to the hack.
4. Euler Finance
In March 2023, Ethereum-based lending platform Euler Finance suffered a flash loan attack that led to nearly $200 million wrapped USDC (wUSDC), wrapped Bitcoin (WBTC), staked Ether (stETH), and DAI stablecoin being stolen.
5. Ronin Network
In March 2022, hackers linked to the Lazarus Group compromised the private keys of validator nodes on the Ronin Network, which powers the popular crypto game Axie Infinity, to create fake transactions and steal approximately $624 million in ETH and USDC. The hack was caused by poor security measures adopted by Ronin. It was the largest hack in crypto history until the Bybit exploit. A month later, the developer of Axie Infinity, Sky Mavis recovered $5.7 million from the stolen funds.
How to safeguard your crypto assets from hacks?
In the crypto industry, the primary concern encountered by the consumers is security issues and they are afraid of theft and hacking activities. User’s fear, make security an essential factor when transacting using cryptocurrencies. To secure our digital assets from hackers, theft, and scams, we need to follow some reasonable techniques and they are noted below.
- Create a Strong password: Setting a weak password means you are welcoming hackers to steal your funds, hence it is essential to use a strong and unique password to protect your account. Your password’s strength can be enhanced by using password managers or including a combination of symbols, letters, and numbers.
- Selection of the Right Wallet: The primary step to make your crypto wallet more secure is to choose the right crypto wallet. There are two types of crypto wallets, cold and hot wallets. Cold wallets store your assets offline and are connected to the internet unless you plug in the device to your computer. Hot wallets are software applications that can be used to make day-to-day transactions and remain connected to the internet. Hot wallets are more prone to hacks and other exploits.
- Control the data sharing online: Sharing personal data through online sources can easily make you a target for hackers or scammers. Crypto holding publicly easily can attract unnecessary attention, hence we must find some techniques for securing our personal data while sharing online like using nicknames instead of real names and avoiding sharing relevant data online which compromises our security.
- Execute 2FA: Implement the two-factor authentication (2FA) process for your exchange account as soon as possible because it provides an extra level of security by mandating a second verification approach such as an app-generated code or text message.
Bottom Line
It is absolutely necessary to stay alert to potential threats and protect your assets in the rapidly evolving crypto economy. The constant hacks and theft make the crypto market more vulnerable, hence businesses and developers must adopt robust security protocols
and exercise more caution when interacting with blockchain-based programs and transacting using cryptocurrencies.