DMM BTC lost $308M in May after hackers used stolen private keys to drain 4,500 BTC.
PlayDapp met two February attacks, losing $290M in PLA tokens, with no retrieval completed.
WazirX lost $235M in June, tying the breach to North Korean actors.
The crypto industry met safety breakings in 2024, with hackers using weaknesses and stealing billions of dollars. By the end of Q3, blockchain intelligence company TRM Labs spread that cybercriminals had stolen over $2.2 billion, overreaching the $1.8 billion lost in 2023. These attacks affected centralized exchanges, decentralized platforms, and individual accounts, leaving users and companies with financial losses.
$308 Million Stolen in DMM Bitcoin Hack
In May, DMM, a crypto exchange in Japan, reported a security breach. Hackers linked to Pyongyang reportedly used stolen private keys to siphon 4,500 BTC, valued at over $300 million. The attack disrupted the exchange’s operations, forcing its parent company to migrate user accounts to SBI VC Trade. The incident left many users without access to their funds.
PlayDapp Experiences Two Major Attacks
In February, PlayDapp, a decentralized finance and gaming platform, faced two straight cyberattacks. Hackers manipulated the system, stealing $290 million in PLA tokens. Despite offering a $1 million reward for the return of the stolen funds, the platform could not recover the assets. PlayDapp’s operations were disrupted, leaving users doubting the security measures.
WazirX Loses $235 Million in June Hack
In June, WazirX, an Indian exchange, lost $235 million in an attack. The incident, allegedly linked to North Korean hackers, forced the platform to stop withdrawals. Compounding the issue, WazirX transferred $75 million of user funds to Bybit and KuCoin. Legal challenges further strained the company, and users continue to await updates on recovery efforts.
Ripple Co-Founder Chris Larsen Targeted
In January, hackers pocketed $112.5 million worth of XRP from Ripple co-founder Chris Larsen’s personal accounts. Blockchain investigator ZachXBT traced the stolen funds through multiple exchanges, but recovery efforts proved unsuccessful. This attack raised concerns about the security of personal cryptocurrency holdings.
$80 Million Drained from Orbit Chain
Orbit Chain, a DeFi project, saw a $80 million hack at the beginning of 2024. Hackers exploited vulnerabilities to drain ETH and DAI, routing the funds through Tornado Cash. Despite issuing an apology, the team provided limited updates on recovery efforts, underscoring the risks associated with cross-chain protocols.
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