Top 10 Worst Crypto Hacks in 2023

hacks scams 2023
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The year 2023 left an indelible mark, characterized by a series of massive hacks resulting in multimillion-dollar losses for various platforms and projects. These incidents, ranging from attacks on cryptocurrency exchanges to exploits in DeFi protocols, underscore the importance of ongoing efforts to enhance security in the digital finance ecosystem. While hundreds of cases were reported, the top 10 alone led to the theft of over $1.043 billion.

10. Breach ($41 Million)

On September 4, 2023, experienced a significant breach resulting in massive losses of around $41 million. The attacker swiftly targeted Ethereum, BNB Smart Chain, and Polygon Networks, siphoning $15.7 million from the Ethereum network and $25.2 million from the other two blockchains.

9. Kyber Network Attack ($54.7 Million)

Kyber Network suffered a $54.7 million loss in digital assets due to an exploit on November 22, 2023. The attack capitalized on double liquidity counting within the protocol, representing one of the most sophisticated hacks in the DeFi space.

hacks scams 2023

8. Curve Finance Hack ($60 Million)

In late July 2023, Curve Finance suffered a hack resulting in a minimum loss of $60 million. The platform initiated a recovery process by offering a reward to the attacker, successfully recovering 73% of the stolen funds by early August.

7. CoinEx Attack ($70 Million)

In September 2023, CoinEx fell victim to an attack where hackers exploited compromised private keys, resulting in the theft of over $70 million in tokens. The platform pledged full compensation to affected users and took measures to reinforce security.

6. Atomic Wallet Breach ($100 Million)

In June 2023, Atomic Wallet experienced a security breach affecting over 5,500 accounts, with estimated losses of $100 million. Linked to Lazarus Group, a North Korean cybercrime syndicate, legal action was initiated by affected investors.

5. Double HECO Bridge and HTX Hack ($115 Million)

Platforms associated with Justin Sun, HECO Bridge, and HTX, were victims of two hacks in November 2023, potentially resulting in losses of $115 million. HTX lost around $30 million, while Heco Chain suffered an estimated $85.4 million theft, primarily in USDT and ETH.

hacks scams 2023

4. BonqDAO Exploit ($120 Million):

BonqDAO suffered a significant smart contract exploit due to an oracle vulnerability, resulting in a $120 million loss. The attacker manipulated AllianceBlock token prices, generating large quantities of BEUR exchanged on Uniswap, triggering massive liquidations.

3. Multichain Hack ($126 Million)

In July 2023, the cross-chain bridge protocol Multichain experienced a suspicious hack, seemingly a rug pull, with losses exceeding $125 million. Insider involvement is suspected, and the platform faces the challenge of addressing issues related to its bridges to Fantom, Dogecoin, and Moon River.

2. Euler Finance Attack ($197 Million)

Euler Finance, a DeFi protocol, fell victim to a flash loan attack in March 2023, causing estimated losses of $197 million. Despite the blow, the hacker, known as “Jacob,” surprised the community by partially returning the stolen funds through encrypted messages, marking an unusual occurrence in the DeFi space.

1. Mixin Network Hack ($200 Million)

In September 2023, Mixin Network, a peer-to-peer network for digital asset transactions, suffered a cyber attack resulting in a reported loss of $200 million. The hack specifically targeted the platform’s cloud service provider’s database, leading to an immediate suspension of deposits and withdrawals.

These incidents underscore the urgent need for increased security and surveillance in the cryptocurrency ecosystem to protect user assets and ensure the integrity of the digital financial sector. We hope that companies and protocols can substantially improve cybersecurity in 2024, setting an example of resilience with fewer and less substantial losses.


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