Cyber security threats have been in existence since the beginning of the internet and occur on a daily basis using sophisticated means. There are rumors of an exit scam as the website's social media profiles were deleted following the "hack". According to our research, a total of 47 exchanges have been compromised resulting in the theft of customers' funds or personal information up to 2023. It also . We create this unique opportunity to help you make informed investment decisions. This was not a hack per se, but an exploit of a bug in the system that allowed attackers to take out more than $1 million in loans with just $1,000 in collateral. Bitrue is currently the 68th largest crypto exchangeand is well known for its wide variety of XRP trading pairs and advanced trading platform. 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BTER shared that they were working with law enforcement to resolve this matter, and outlined a plan to pay back users after inking a deal with security firm Jua.com. According to Ronin, 173,600 Ether tokens and 25.5 million USD coins. KuCoin, one of the mostpopular exchanges for trading altcoinswas hacked on September 25, 2020. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Enter your email address to follow this blog and receive notifications of new posts by email. Binance Smart Chain-based lending protocolMeerkat Finance lost $31million in user funds just a day after it launched in March 2021. This allows the hacker to withdraw funds repeatedly before the original transaction is approved or declined. Kangas shared that the attacker used LiveChat to spread undetected malware to access the various accounts of victims. According to aStuff reportThursday, a creditor, U.S. firm Stakenet, has been told that about NZ$62,000 (US$45,000) in the XSN cryptocurrency had been transferred out of its cold wallet on Feb. 1. The hackers were able to exploit a vulnerability that resulted in about $500,000 worth of tokens being stolen from its pool. A total of 4,836.26 ETH, 443.93 BTC and approximately US$66,200 in other currencies were stolen from the popular cryptocurrency exchange. . Crypto Hack - What Causes It | List Of Blockchains/Exchanges That Have Been Hacked! An internal staff member at CoinSecure was blamed for an incident as he was the only person with access to the private keys. Whenever the wallets emptied, Mt Gox credited an additional 40,000 bitcoins to multiple user accounts. During the exploit a Polygon wallet accessed 112 million ALBT tokens, bridging them from the Polygon blockchain to the Ethereum blockchain. Still, the more time passes, the more millions get nabbed, which raises concerns about lessons learnt. The founder of Bitgrail was accused of "hacking itself" to steal around 146 million dollars worth of cryptocurrency from the trading platform. Goxs unencrypted private key appears to have been copied. The first major exchange to suffer from a hack was Mt. Following a hack that lost the exchange nearly $6 million, MapleChange announced it could not refund customers and was closing its doors. Three separate incidents led to Bitcoinicas downfall. Because these XEM tokens were stored in an internet-connected hot wallet, they were more at risk of theft, which ignited a larger conversation about custody and security. The nature of the attack wastechnically sophisticated with extensive knowledgeand understanding of the leading DeFi protocols. The exchange cannot compensate losses but intends to return untouched amounts as some percentage to users. By exploiting flaws in how the smart contract was secured and managed, the attacker was able to extract approximately $100 million worth of $PAID tokens, and converted about $3 million of it to Ether before being blocked by the PAID Network team. Mostly BNB and BUSD tokens were targeted, but also USDT, BTC, ETH, DOT, ADA, and U92, Uraniums native crypto. FTX General Counsel Ryne Miller later tweeted that the crypto exchange was making ''every effort to secure all assets, wherever located.". This article will provide a list of crypto exchanges that have been hacked and what we can learn from these incidents. Since 2012, at least 48 cryptocurrency exchanges have suffered major hacks resulting in numerous crypto platforms shutting down. Following the loss of up to 950 BTC and 2500 LTC, the exchange issued a Debt Management Plan which outlined plans and potential refunds for victims. This exchange is now shut down, after this hack it never recovered and court proceedings are in place to supposedly recover some of the users funds but so far not much has come out of this. Coincheck stated that certain personal information like names, registered addresses, birth dates, phone numbers, and ID Selfies was exposed in the incident. Following a maintenance announcement and signs of assets moving to new addresses, suspicions that CoinBene fell victim to hackers rose among the public. One of the least detrimental hacks to the customers and as long as I know, users were reimbursed. The system also suggests two-factored authentication for accounts. A mix of more than 20 tokens were stolen, including altcoins like BSC-USD, Binance Coin (BNB), BNBBPay (BPay), and Safemoon, while large amounts of Moonshot, Floki, and BabyDoge were also compromised. Chat is open. Investigations revealed that the hack may have begun as early as September 2011. In August Nomad, a service that allows users to send crypto tokens between different blockchains, was struck, with media . However, it remains unclear how these funds will be shared with customers who were forced to share the losses and were only compensated via the RRT token and to the amounts of their fiat value, rather than the crypto they initially lost. The company said that 4,836 ETH and 443 BTC were taken. An error in the protocols smart contract was suspected as the cause of the malfunction. Nearly4,000 customer accountswere robbed for an estimated total value of2 million Czech koruna, or the rough equivalent to $100,000 at the time. In 2018, the exchange suffered a massive hack that resulted in the loss of 438 Bitcoins which was the equivalent of $3.5 million at the time. While the exact cause of the hack is unknown, there are grounds to believe that an inexperienced insider transferred the funds to a Kraken wallet. In the same year,the exchange was thevictim of a hack for at least $500,000 worth of cryptocurrencies. The largest bitcoin exchange in Canada lost $190 million in crypto following the death of its founder and CEO Gerald Cotten, the sole controller of the exchange's cold storage wallets. The hackers then used bitcash.cz email addresses to phish BitCash users. Around 523 million NEM ( XEM) tokens, worth over $530 million at the time, were illicitly sent from its address on Jan. 26, followed by an abnormal decrease in the exchange's balance. Cryptocurrency investor, coach, educator and avid vlogger. The exchange claimed that no user wallets were compromised. Customers that were affected by the hack were reimbursed in full with funds taken from the exchange's insurance account. "Crypto Crime Hit All-Time High of $20.6B in 2022: Chainalysis. Stablecoins (0%) Troll trading volume in the last 24 hours is $ 191,070, which is 54.26% higher than the day before. Kevin George is a freelance crypto writer and editor for Investopedia. Saddle Financesaidit was in the process of recovering the $3.8 million from BlockSec. The cause of the hack is largely unknown, however, a Security report detailing the findings has linked 2 of the hacks to Lazarus Group. "Crypto Exchange Binance Suffers $570M Hack.". On March 5, 2021, the PAID Network smart contract was compromised. According to Binance CEO, Changpeng Zhao, commonly known as "CZ", some user two-factor authentication codes and API tokens were compromised during the attack. You can learn more about the standards we follow in producing accurate, unbiased content in our. NXT tokens were transferred off the exchange and valued at $1.65 million at the time. According to Altsbit, hackers were responsible for the theft of a large number of coins. Shapeshift is aninstant crypto swap platformand trading exchange that offers a variety of digital assets. ", Coindesk. However, in 2014 a devastating hack resulted in a loss of 740,000 Bitcoins belonging to its customers and 100,000 owned by the exchange. The information security incident affected all traders on the platform that could potentially be used for unlawful activity. While technically not a hack, QuadrigaCX's sensational story is simply too controversial to ignore. The personal details of 30,000 people were stolen, leading to the subsequent theft of their funds. Balancer, which provides non-custodial asset management reported it was the victim of an elegant DeFi hack in the protocol. On July 12, BITPoint revealed the loss of 3.5 billion yen, 2.5 billion of which belonged to customers. Here are the 50 best crypto exchanges of 2021. In one of the most high-profile attacks in cryptocurrency history, the Binance exchange was hacked for $570 million in October 2022. Lendf.Me was a popular decentralized lending platform that enables instant borrowing and withdrawal capabilities on the Ethereum network. Back-to-back hacks have exposed the vulnerability of the crypto industry and undermined investors' confidence. The Japanese-based crypto exchange Zaif had approximately$60 millionin cryptocurrency assets stolen. (LogOut/ The shared keypool led to address re-use, with the Mt. According to the report released by the company, 483 users had their accounts compromised. Hackers made off with nearly $7 million worth of cryptocurrency. The hack became possible because of a bug in the code that developers missed before releasing the new version for public usage. Altsbit partly reimbursed its customers before shutting down later in May. The criminal organization laundered more than $60 million worth of Ethereum (ETH) on January 13, 2023 viaRAILGUN a privacy protocol. Sam Bankman-Fried and other executives have been accused of a wide range of crimes from securities fraud to money laundering. DragonEx has shared that it intends to repay those who were directly affected. The estimated amount of funds stolen is estimated to be more than $1 million. Wormhole Portal, a bridge between Solana (SOL) and other blockchains, was exploited for approximately 120k wrapped ETH. While technically not an exchange hack, on December 2020, BTC Markets exposed the names and email addresses of thousands of users in an email that went undetected. We've compiled a comprehensive list of cryptocurrency exchange hacks - you'll be amazed at how much has been stolen over the years. The attackers stole 2804.96 ETH and 462,079,976 AMP tokens from the protocols vaults to a total of approx. In this post, I collected data from various sources to compile a comprehensive list of all the hacks that we know of, from the early days of crypto, to most recent times. Saddle Finance, a decentralized exchange for trading stablecoins, was hacked in a DeFi exploit. Three months following the announcement, Trbacz notified users that Yevgeniy Nikulin, a Russian national who was arrested for hacking Dropbox, Formspring, and LinkedIn, had stolen 620 BTC from the exchange by using an SQL injection to gain access to BitMarkets servers. It is not true that you cannot withdraw crypto from a cold wallet without a transaction confirmation. To avoid further damage to sentiment, developers need to bring more security to the blockchain networks. List of DeFi tokens & coins, Bitcoin Private Key and Seed Phrase: All You Need to Know. Crypto exchanges and trading services charge trading fees whenever you're buying, selling, or exchanging digital currencies on their platforms. LocalBitcoins Vice President Nikolaus Kangas acknowledged a hack and loss of 17 BTC in a forum post. Blockchain Facts: What Is It, How It Works, and How It Can Be Used, Cryptocurrency Explained With Pros and Cons for Investment, FTX: An Overview of the Exchange and Its Collapse. But the first security company to notice the hack estimated the stolen tokens were worth closer to . Eterbase: The cryptocurrency exchange lost $5.4 million, stolen. The specific cause of the breach has yet to be determined. Bitfinex is a cryptocurrency exchange that is currently ranked #5 in terms of reported trading volume, liquidity and traffic. In a breach that took place between the night of May 9, 2016 (HKT) and the evening May 12, 2016, Gatecoin lost 250 BTC and 185,000 ETH, 15% of its crypto asset deposits. The attacker drained funds from a liquidity pool on the DEX, which is built on zkSync. In late April 2021, the platform suffered a loss of $50 million during its token migration process. Several large transactions were identified moving from their hot wallet and notified their users of a security breach. This was not in line with the best industry practice as the majority of funds should be kept in isolated storage. Of particular concern is the sale of hacked cryptocurrency accounts, which is now booming, according to an official press release published on May 1, 2023. According to reports, the hackers were able to exploit bugs in the platform across different blockchains toperform a "re-entrancy attack." The exchange was based in Japan and was the largest trading platform in 2014 that handling over 70% of all Bitcoin transactions worldwide. "Beanstalk Crypto Project Robbed". The platform is now on the list of hacked exchanges due to a large-scale security breach that occurred on May 7, 2019. Learn more Spot P2P OTC Custodial Non-custodial CEX DEX Hybrid AMM Derivatives Brokers Gemini says it has $200 million in crypto insurance coverage. Zaif refunded lost holding by affected customers and resumed full services and is currently a top 50 cryptocurrency exchange by trading volume, traffic and liquidityaccording to coinmarketcap. Decentralized exchange SushiSwap was exploited allowing hackers to steal more than $3.3 million in crypto from wallets that had previously interacted with the platform. Saddle Financeconfirmedthe incident, saying its team was investigating a possible exploit.BlockSec was able to rescue $3.8 million from the exploiters with an internal system that can detect and front-run hacking incidents using off-chain arbitrage bots called flashbots. You left the coins in the same place where you bought them but I have news for you: this may not be the best way to store your crypto. Here are some of the most common crypto hacking techniques. Thanks, the safest way is to use hardware wallets. Indian bitcoin exchange Coinsecure lost 438.318 BTC, allegedly due to the actions of its former Chief Security Officer. Last updated in Apr 2023. All of the tokens were moved to an address labeled by Etherscan as the BitMart Hacker.''. While its believed that over $100 million worth of cryptocurrency was stolen, CoinBene denies a hack occurred. Free Airdrops Diamond Rewards Learn & Earn. Attackers are resetting crypto account passwords via AT&T emails. As reported by Reuters in October 2021, this hack took place between March and May 20th 2021. Depending upon your trading or investing frequency, these trading fees start adding up over time. The company reported a theft of 5,000 BTC and shared that attacks originating from Russia and Eastern Europe targeted Bitcoin7s server, compromising wallets and user data. In an official statement, the Tokyo-based organization shared that attackers hijacked one of Coinchecks domains to carry out spear-phishing attacks on customers. We mention a few prominent hacks in this section. 2020 February - Altsbit - 6,929 BTC, 23,210 ETH, 3,924,082 ARRR, 414,154 VRSC & 1,066 KMD Italian cryptocurrency Altsbit had only been around for a few months before it was hacked. Bitcoin, Ethereum and Litecoin funds on exchange cold wallets were not affected. the biggest theft in the history of the world. US$15.5 million), this exchange gets hacked again. 97.77% (Refunded). However, the exchange suffered another cyber attack and lost 17% of its assets on December 19, 2020. Reportedly, close to $200 million worth of crypto was stolen in this hack according to security firm Peckshield. This list of exchanges includes centralized, de-centralized, wallets, and leverage trading platforms. Binance is constantly reinventing itself and expanding the scope of its business such that users can access multiple income-generating opportunities on just one platform. On May 11, attackers used a compromised email account to lift 18,500 BTC from Bitcoinicas hot wallet. From the data gathered, each wallet was scored and assessed based on seven key variables: Stablecoins. However, history has proven that exchanges have become targeted by hackers, particularly as the popularity and price of digital assets have increased. This gave the actor the ability to change DNS records and in turn, take control of a number of internal email accounts. In January 2023, the FBI released a report, revealing that Lazarus Group, the North Korean state hacking group, was behind this operation and 11 addresses were identified. Cryptocurrency exchanges have become mainstream to allow individuals to buy, sell, exchange, and store cryptocurrencies. Derivatives Many crypto exchanges have been hacked, and we won't list them all here. In at least six cases, hackers stole more . 5 December 2021 - Bitmart This amount is lower than the $1.3 billion lost in the first quarter of 2022, but it is still a substantial sum. Upbit promised users that it would cover the losses. How long have you been blogging for? Many FTX wallet holders reported $0 balances in theirFTX.comand FTX US wallets. The hacker(s) used the file to access and gradually steal funds associated with Mt. The largest-ever cryptocurrency hacks BitGrail: $146m was hacked from the Italian exchange in 2018. In November 2022, FTX, one of the most powerful players in the crypto industry,declared bankruptcy. As an employee accessed the affected machine to make two transfers, the attack was launched. $147 million. However, the protocol confirmed safety for other funds as no more bridges had to bear the burn of the attack. DeFi protocol Grim Finance lost $30 million in 5x re-entrancy hack.. ", CoinDesk. US officials seized $3.6 billion in relation to this hack their biggest seizure of cryptocurrencies ever. Osmosis, a decentralized exchange built on Cosmos, was hacked for roughly $5 million, forcing developers to halt the network. The Chinese Bitcoin exchange BTER lost 7,170 bitcoin in a hack from its cold wallet that was worth more than $1.75 million at the time. According to a company spokesperson, the hacker had access to the hot wallet infrastructure that enabled them to gain access to the funds. The exchange accepted it was responsible for contributing to the security incident as it had stored large amounts of user funds on hot wallets instead of cold wallets. A 10% bounty was offered by the CEO to the hacker if they returned the funds. The hacker used aflash loan, which allows people to borrow an asset to make a quick trade and then repay the assetall in just one complex transaction that involves multiple protocols. Hackers stole nearly $530 million in NEM coins from Coincheck, then the leading exchange in Japan. The Russian cryptocurrency provider Livecoin suffered a major security breach on December 23, 2020. Hackers allegedly stole over $40 million worth of altcoins and assorted tokens. It was later determined that an attacker had successfully phished 17 OpenSea users into signing a malicious contract, which allowed the attacker to take the NFTs and then flip them. The following cryptocurrency exchanges have been affected by cyber security hacks that have resulted in a loss of customer assets or suffered from a data privacy breach since their inception to the market. BTER was compromised several months before this incident in 2015 when a hacker penetrated the exchange's servers. The crypto exchange has claimed that 100% of the customers who experienced a financial loss have now been reimbursed. 53.10% (Refunded), ETH Lost 23.21 out of 32.262 9.052 will be returned to users. Coindesk. Coinbene has denied any involvement with the hack and did not respond to any questions regarding a possible hack that raised further questions. Cross-chain bridge is a term for software that enables the transfer of cryptocurrency or blockchain assets between blockchain networks. the companys CEO confirmed the attack in this tweet. The first incident took place on 14th March and resulted in the loss of 315 Bitcoin. The current average price of RUGAME is $ 0.00001152, which is a weighted average across 4 crypto exchanges. Bithumb was hacked again on March 29, 2019, for nearly $20 million XRP tokens from its online wallets. Learn. Today, the amount of lost Bitcoin would be the equivalent of 681 million at current market prices. This compensation may impact how and where listings appear. Last year, more than 40 hacks and breaches were reported and we are witnessing a continuous rise in crypto fraud-related incidents, with the number of offenses growing by 40% every year, according to Markets Insider. The total amount stolen represented only a small portion of the user funds held under custody on offline cold storage wallets. The stolen coins were left on an online wallet at the time of the theft. The amount stolen from the FTX hack is to the tune of USD 60 million according to several reports. Barely a week before then, the Audius platform was reported to have lost $6 million to a crypto hack. Binance announced it would use the #SAFU fund to cover the incident in full. Crypto trading platform Bitmart says . "'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M. We are going to release a big crypto tokens rating in February 2022. Unfortunately for the company, the exchange was hacked a third time while under liquidation. Hacking remains a major barrier to cryptocurrency adoption. 56 exchanges have closed their doors in 2023, totaling 424 close downs since 2014. The company made the decision to spread the losses over all customers on the exchange to reduce the burden on the affected users. For technical details please refer to Open Zeppelins explanation here. Reportedly around 3 million EOS and 20 million XRP were stolen in this heist.In an official statement, Bithumb shared that the stolen funds were owned by the exchange. On the 2nd of August 2022, Solana was trending on Twitter because close to $8 million was stolen from its wallets. This is not the first time Bitcurex was targeted. Affected coins in this hack were Bitcoin, Ethereum, Tron and XRP to the total amount of approximately $97 million (according to Elliptics analysis). The cause of the breach wasdue to hackers phishing customers' login credentials and 2FA one-time codes from a LocalBitcoins forum, not the exchange directly. Goxs private keys without detection. HedgewithCrypto aims to publish information that is factual, accurate and up to date.