The year 2024 witnessed a series of devastating cyberattacks on cryptocurrency platforms, leading to staggering financial losses and exposing vulnerabilities in the crypto industry's security infrastructure. From major exchanges to blockchain-based gaming platforms, hackers targeted a wide range of systems, exploiting flaws and weaknesses to steal millions.
DMM Bitcoin $BTC
One of the most significant thefts occurred at DMM Bitcoin, a prominent Japanese cryptocurrency exchange. Hackers exploited a vulnerability in the platform's smart contract, resulting in the loss of $330 million. This incident highlighted the critical need for robust smart contract auditing and testing.
PlayDapp
PlayDapp, an Ethereum-based gaming platform, fell victim to a $36.5 million theft after attackers exploited a leaked private key. This breach underscored the dangers of insufficient key management and the need for stricter access controls to sensitive data.
WazirX
The Indian cryptocurrency exchange WazirX suffered a massive loss of over $230 million. The hackers exploited a flaw in the exchange's multisignature (multisig) wallet, which should have provided an added layer of security. This incident raised concerns about the implementation and management of multisig solutions.
BtcTurk, Munchables, and Radiant Capital
BtcTurk, a Turkish exchange, faced a $5.3 million loss.
Munchables, a decentralized finance (DeFi) platform, lost $62.5 million in an attack.
Radiant Capital, a DeFi protocol, suffered a $97 million breach. This particular attack was attributed to a North Korean hacking group, which has been increasingly active in targeting cryptocurrency platforms to fund illicit activities.
BingX and Hedgey Finance
BingX, a popular crypto trading platform, experienced a $45 million loss due to a hot wallet hack.
Hedgey Finance reported a $44.7 million theft, stemming from weak security protocols.
Penpie and FixedFloat
Both Penpie and FixedFloat, smaller platforms in the crypto space, were also targeted. These attacks resulted in millions of dollars in losses, emphasizing that no platform, regardless of size, is immune to cyber threats.
