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    Author Topic: Biggest cryptocurrency hacks in 2024  (Read 386 times)

    • MusaMohamed (OP)
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    January 02, 2025, 01:54:50 AM
     #1
    Crypto hacks exploits in 2024.
    • DMM Bitcoin: $300M.
    • WazirX: $230M.
    • Munchabbles: $62M.
    • Dai whale exploit: $55M.
    • Radiant Capital: $51M.
    • BingX: $43M.
    • Penpie: $27M.
    • UwU Lend: $20M.
    • Sonne Finance: $20M.
    • M2 exchange: $14M.

    DMM Bitcoin, a Centralized Exchange, has a biggest crypto hack in 2024, with total value of hack is $300M. It's a hack on private keys.

    WazirX, another Centralized Exchange, with a second biggest crypto hack in the last year, total value is $230M. The Lazarus hacker group from North Korea did it.

    Munchables, a Gaming project: It's $62M hack through a hole in smart contract. You can see danger of smart contract!

    Dai Whale exploit: It's a personal whale as a victim of phishing attack.

    Radiant Capital, a Lending project: It was attacked multiple times, and total loss is about $51M.

    Bing X, another Centralized Exchange: a hack of $43M from hot wallets.

    Penpie, a Yield Farming project: $27M hack by exploitation on reentrancy hole.

    UwU Lending, another Lending project: a hack on Oracle flaw.

    Sonne Finance, a third Lending project in this list: $20M through smart contract hole.

    The last one is M2 Exchange, another Centralized Exchange, and the fourth CEX in this list, with $14M hack on hot wallets.

    Again you can see danger of storing your fund on Centralized platforms like Exchanges.

    Following resources can help you understanding more about most common scams, and practicing better with your money.
    Reminder: do not keep your money in online accounts
    Security checklist.
    Scam book.

  • Oshosondy
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    January 02, 2025, 02:42:56 AM
     #2
    There is exchange board on this forum. It is better you move this thread to exchange board which is the perfect board for it.

    I know only two among the hacks. WazirX and BingX. I do not know of now but when WazirX was hacked, the exchange was unable to pay their customers and the exchange was shutdown at the time. But I know of BingX, the exchange continued to function and their users have access to withdraw. BingX is functioning good till now.

    But not your key not your coin.
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  • headingnorth
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    January 02, 2025, 05:51:17 AM
     #3
    You would think an advanced country like Japan would have some of the best cyber security,
    but since Mt. Gox they continue to suffer the worst security breaches in the industry. They have learned nothing.

    Why would anyone in their right mind leave their bitcoin on a Japanese exchange after so many major incidents? Only an idiot.
    ETHEREUM IS THE MOTHER ASSHOLE FROM WHICH THE SHITCOINS SPRING

  • NotATether
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    January 02, 2025, 06:09:33 AM
     #4
    Quote from: headingnorth on January 02, 2025, 05:51:17 AM
    Why would anyone in their right mind leave their bitcoin on a Japanese exchange after so many major incidents? Only an idiot.

    Fixed that for you.
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  • headingnorth
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    January 02, 2025, 10:30:28 AM
     #5
    Quote from: NotATether on January 02, 2025, 06:09:33 AM
    Quote from: headingnorth on January 02, 2025, 05:51:17 AM
    Why would anyone in their right mind leave their bitcoin on a Japanese exchange after so many major incidents? Only an idiot.

    Fixed that for you.

    Some exchanges are much better than others. For example Coinbase and Kraken the two oldest exchanges in the world have never been hacked.

    I wouldn't leave my funds on any exchange, but the reality is many still do because they have no idea about self-custody and will probably never learn.
    In reality such people are probably more likely to lose their funds by losing their private keys or by mishandling self-custody, so it may be less risky for certain people to leave on the exchange than to self-custody, depending on the quality of the exchange's security. So if you're going to leave your funds on an exchange the least you can do is research its track record and do your due diligence.

    Millions of bitcoin have been lost forever simply because people lost their private keys or mishandled a self-custody transaction, etc.
    ETHEREUM IS THE MOTHER ASSHOLE FROM WHICH THE SHITCOINS SPRING

  • cryptomaniac_xxx
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    January 02, 2025, 10:35:38 AM
     #6
    For the DMM hacked, US and Japan attributed to the state sponsored North Korean hackers,

    FBI, DC3, and NPA Identification of North Korean Cyber Actors, Tracked as TraderTraitor, Responsible for Theft of $308 Million USD from Bitcoin.DMM.com

    We might or might not believed that it was indeed the Lazarus Group who hacked them.
    But if you have to think about it, North Korea is still under trade embargo and sanction and one way for them to survived is through this hacking on Japanese and South Korean exchanges.
     
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  • fuguebtc
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    January 02, 2025, 12:19:15 PM
     #7
    Quote from: MusaMohamed on January 02, 2025, 01:54:50 AM


    Again you can see danger of storing your fund on Centralized platforms like Exchanges.



    Storing bitcoins on centralized exchanges exposes us to many risks such as the exchange can freeze assets or go bankrupt...and compensation is very complicated or we even risk losing everything. Overall, there are a lot of risks that we will face if we store bitcoins on centralized platforms but that does not mean that storing bitcoins in personal, non-custodial wallets is completely safe.
    I believe there are also hundreds of personal, non-custodial wallet hacks happening every year but most go unreported. Therefore, we should also be careful in protecting personal security when using non-custodial wallets, do not be subjective that we will be absolutely safe with it.
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  • slaman29
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    January 02, 2025, 02:07:52 PM
     #8
    Quote from: MusaMohamed on January 02, 2025, 01:54:50 AM
    DMM Bitcoin, a Centralized Exchange, has a biggest crypto hack in 2024, with total value of hack is $300M. It's a hack on private keys.

    WazirX, another Centralized Exchange, with a second biggest crypto hack in the last year, total value is $230M. The Lazarus hacker group from North Korea did it.
    <>

    Actually, its pointless to talk about the value of the hack in dollars. Always better to talk about the value in BTC, and then state the value then.

    DMM lost 4500 BTC... right now, that's over $400 million Smiley

    Mt Gox lost 850,000 BTC... 400 million at the time but well, you know how much it is today Smiley
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  • MusaMohamed (OP)
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    January 05, 2025, 06:17:48 PM
     #9
    Quote from: slaman29 on July 03, 1975, 01:24:47 AM
    Actually, its pointless to talk about the value of the hack in dollars. Always better to talk about the value in BTC, and then state the value then.

    DMM lost 4500 BTC... right now, that's over $400 million Smiley

    Mt Gox lost 850,000 BTC... 400 million at the time but well, you know how much it is today Smiley
    Agree with you but with their information, I only can get the hacked value in $, not in BTC or cryptocurrency. If readers are interested in, they can dig for more details.

    Hacked Exchanges since 2011 is another thread on hacked exchanges, with two information on hacked values, in BTC and in $. Information about $ values have to be updated with time, and it's complicated requirement.

  • BlackHatCoiner
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    January 05, 2025, 08:37:33 PM
     #10
    Quote from: headingnorth on January 02, 2025, 10:30:28 AM
    Some exchanges are much better than others. For example Coinbase and Kraken the two oldest exchanges in the world have never been hacked.

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    January 05, 2025, 08:45:13 PM
     #11
    It is already needless to say this, we have been discussing about this for a very long time now, but still people do not learn and they still leave their funds in custodial services. The mistake a lot of people make is that they believe some services are reputable and so not hackable, but that is not true at all, self custody is the only way to store your coins.
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  • slaman29
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    January 06, 2025, 09:49:43 AM
     #12
    Quote from: MusaMohamed on January 05, 2025, 06:17:48 PM
    Quote from: slaman29 on July 03, 1975, 01:24:47 AM
    Actually, its pointless to talk about the value of the hack in dollars. Always better to talk about the value in BTC, and then state the value then.

    DMM lost 4500 BTC... right now, that's over $400 million Smiley

    Mt Gox lost 850,000 BTC... 400 million at the time but well, you know how much it is today Smiley
    Agree with you but with their information, I only can get the hacked value in $, not in BTC or cryptocurrency. If readers are interested in, they can dig for more details.

    Hacked Exchanges since 2011 is another thread on hacked exchanges, with two information on hacked values, in BTC and in $. Information about $ values have to be updated with time, and it's complicated requirement.

    Of course. Anyone can google. But if you're posting it, you should be able to get the value of coins hacked. As you yourself can see, updating dollar value is complicated. Keep the coin value, that never changes. Anyone with a brain can convert and see for themself Smiley

    So back to my point, pointless to talk about dollar value as it changes every day, week, month, year Smiley
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  • betswift
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    January 06, 2025, 09:52:42 AM
     #13
    Quote from: BlackHatCoiner on January 05, 2025, 08:37:33 PM
    Quote from: headingnorth on January 02, 2025, 10:30:28 AM
    Some exchanges are much better than others. For example Coinbase and Kraken the two oldest exchanges in the world have never been hacked.

    Systems, centralized especially - are there to crack them open eventually.
    Surely, they would still continue to exist and be almost impenetrable, but one day, any of them may find themselves in a bad situation  Wink
    So I agree with you.

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    January 06, 2025, 10:35:40 AM
     #14
    Quote from: BlackHatCoiner on January 05, 2025, 08:37:33 PM
    Quote from: headingnorth on January 02, 2025, 10:30:28 AM
    Some exchanges are much better than others. For example Coinbase and Kraken the two oldest exchanges in the world have never been hacked.


    It didn't result in any actual customer funds being lost, despite the confusing headline.

    "Kraken CSO Nick Percoco, on June 20, posted an update stating all funds were returned to the company, with a small amount lost to fees.
    The company subsequently distributed the recovered $2.9 million to its users' via a USDT airdrop."
    ETHEREUM IS THE MOTHER ASSHOLE FROM WHICH THE SHITCOINS SPRING

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    January 06, 2025, 10:42:30 AM
     #15
    Quote from: headingnorth on January 06, 2025, 10:35:40 AM
    Quote from: BlackHatCoiner on January 05, 2025, 08:37:33 PM
    Quote from: headingnorth on January 02, 2025, 10:30:28 AM
    Some exchanges are much better than others. For example Coinbase and Kraken the two oldest exchanges in the world have never been hacked.


    It didn't result in any actual customer funds being stolen, despite the confusing headline.

    It's a bait title  Wink And at least it says the fact that it was the treasury, not clients of the exchange.

  • itinvestrange
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    January 14, 2025, 12:16:28 PM
     #16
    Quote from: MusaMohamed on January 02, 2025, 01:54:50 AM
    Crypto hacks exploits in 2024.
    • DMM Bitcoin: $300M.
    • WazirX: $230M.
    • Munchabbles: $62M.
    • Dai whale exploit: $55M.
    • Radiant Capital: $51M.
    • BingX: $43M.
    • Penpie: $27M.
    • UwU Lend: $20M.
    • Sonne Finance: $20M.
    • M2 exchange: $14M.

    DMM Bitcoin, a Centralized Exchange, has a biggest crypto hack in 2024, with total value of hack is $300M. It's a hack on private keys.

    WazirX, another Centralized Exchange, with a second biggest crypto hack in the last year, total value is $230M. The Lazarus hacker group from North Korea did it.

    Munchables, a Gaming project: It's $62M hack through a hole in smart contract. You can see danger of smart contract!

    Dai Whale exploit: It's a personal whale as a victim of phishing attack.

    Radiant Capital, a Lending project: It was attacked multiple times, and total loss is about $51M.

    Bing X, another Centralized Exchange: a hack of $43M from hot wallets.

    Penpie, a Yield Farming project: $27M hack by exploitation on reentrancy hole.

    UwU Lending, another Lending project: a hack on Oracle flaw.

    Sonne Finance, a third Lending project in this list: $20M through smart contract hole.

    The last one is M2 Exchange, another Centralized Exchange, and the fourth CEX in this list, with $14M hack on hot wallets.

    Again you can see danger of storing your fund on Centralized platforms like Exchanges.

    Following resources can help you understanding more about most common scams, and practicing better with your money.
    Reminder: do not keep your money in online accounts
    Security checklist.
    Scam book.

    This is such an important topic to shed light on! Highlighting the biggest cryptocurrency hacks of 2024 can provide valuable lessons for investors and developers alike. By analyzing how these breaches occurred and their impact, the article can help raise awareness about vulnerabilities in the crypto space and emphasize the importance of security measures. Looking forward to insights that help the community stay safer. Visit More Updateshttps://www.itinvestrange.com/category/crypto-currency/
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