Young people now use crypto for many things from gaming and investing to just sending money to friends. But the more crypto adoption we see, the bigger the number of hackers there are looking to steal digital money. There’s been a dramatic increase in crypto hacks over the past few years and each new one becomes even bigger as more money flows into the crypto sphere.
This trend is making everyone a bit worried about the future of their assets. That’s why many investors try to understand how you can stay safe and protect your crypto from hackers.
Why Are Crypto Hacks Increasing
Crypto hacks aren’t exactly new. They are the same type of hack like we say in other industries but in crypto. Even big banks suffer from data breaches from time to time. But when it comes to exchanges like Bybit and OKX, data breaches can be even more devastating. In 2025 there were several huge crypto exchanges and platforms hacked, leading to losses totaling billions of dollars. But why are hackers suddenly targeting crypto more aggressively?
The more users come to crypto, the more funds are held at crypto platforms. So when crypto rises in adoption, millions more people join exchanges and crypto platforms and deposit their funds there either for trading or for investing. More users mean more potential targets for hackers as many of these new users don’t fully understand crypto security, making them easy targets. With crypto becoming a part of everyday life, hackers have more opportunities to steal digital wallets as in general, crypto users are not really familiar even with basic cybersecurity rules.
But that’s not just end users of crypto being naive and not following basic cybersecurity principles. It’s hackers as well who are also becoming more skilled. They have all the time in the world to find new ways to exploit weaknesses in apps, crypto wallets, websites and even come up with new social engineering tactics.
DeFi platforms are another big thing in the industry since 2018. These platforms let you trade or exchange crypto without a central authority or even getting through KYC. While DeFi is cool and gives some flexibility to end-users it’s also riskier than traditional CEX. All these factors combined make crypto hacks more frequent.
Biggest Hacks in the Crypto Industry to The Day
Below is a list of some of the most notable crypto hacks:
Bybit Exchange Hack – February 2025
Approximately $1.5 billion worth of Ethereum (~400,000 Ethereum) was stolen after the North Korean-linked Lazarus Group exploited vulnerabilities in Bybit’s multi-signature wallet system.
Ronin Network Hack – March 2022
About $625 million in Ethereum and USDC were stolen from the Ronin Network, supporting the Axie Infinity game. The Lazarus Group was linked to this attack.
Poly Network Exploit – August 2021
Hackers stole over $600 million after exploiting a vulnerability in the Poly Network’s smart contract system but later returned most of the stolen funds after communication with the project team.
Binance BNB Bridge Hack – October 2022
Approximately $570 million were stolen after hackers exploited a vulnerability in the BSC Token Hub cross-chain bridge, creating and withdrawing extra BNB.
Coincheck Hack – January 2018
Hackers stole around $532 million in NEM tokens from aTokyo-based exchange. Coincheck was compromised, leading to the loss of NEM tokens. The exchange reimbursed affected users and implemented enhanced security measures.
FTX Hack – November 2022
During its bankruptcy proceedings, unauthorized transactions resulted in significant asset losses from the FTX exchange that resulted in around $477 million being stolen.
Mt. Gox Collapse – 2014
The exchange, once handling around 70% of global Bitcoin transactions, lost approximately $473 million in Bitcoin. Mt. Gox filed for bankruptcy after losing Bitcoins due to security breaches and mismanagement.
WazirX Hack – July 2024
Indian cryptocurrency exchange WazirX suffered a security breach, leading to the loss of approximately $234.9 million
Harmony’s Horizon Bridge Hack – June 2022
Hackers from the Lazarus Group stole $100 million from the bridge.
Bitfinex Hack – August 2016
Bitfinex experienced a security breach resulting in the loss of Bitcoin for around $72 million.
How Hacks Happen
Understanding how hackers hack digital wallets is crucial if you want to protect your investments or savings. Here’s a few common approaches they use to break in:
Phishing Attacks during which hackers send fake emails and SMS messages pretending to be your crypto exchange or wallet provider with OTP passwords. The messages look real but lead to fake websites where hackers steal your passwords and crypto keys.
Malware and viruses are often used by hackers to steal your crypto wallet info without you knowing.
Fake exchange and wallet websites that look legit but steal your crypto the moment you deposit funds or enter your info.
Social engineering tricks you into trusting hackers. They might pretend to be tech support, influencers, or even friends, convincing you to send crypto or passwords voluntarily.
Best Ways to Keep Your Crypto Safe
Here’s what you can do to protect yourself:
- Use a Hardware Wallet
- Enable Two-Factor Authentication (2FA)
- Strong Passwords and Password Managers
- Always Double-Check URLs and Emails
- Keep Software and Apps Updated
- Educate Yourself and Stay Informed
What to Do if You Get Hacked?
Even with good security, hacks might still happen. If you ever suspect you’ve been hacked, here’s exactly what you should do:
- Immediately Change Passwords and Contact Support
- Monitor Your Accounts Carefully
- Report Hacks to Authorities
- Learn and Improve Security Moving Forward
Crypto Hacks Are Real but You Can Stay Safe
Crypto hacks can seem scary but they shouldn’t scare you away from crypto completely. You have to understand how hackers do their job and be careful with your security.
Platforms like 777fun and other crypto-based gaming and social apps remain popular and safe, especially if you use password managers, 2F authentication and OTP. Hardware wallets are another good thing that helps you stay safe in the digital space. Keep your crypto secure, stay informed, and don’t let hackers ruin your life. The more cautious you are, the safer your digital money stays, allowing you to keep enjoying everything crypto has to offer.
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