DMM Bitcoin Incurs the Largest Loss of $305M in Crypto Hacks of 2024

During 2024, the crypto market witnessed a series of huge hacks. As per the data from Phoenix Group, DMM Bitcoin, WazirX: India, and Munchables dominated the projects with the biggest losses throughout the year, indicating the evolving cybercriminals exploiting the crypto vulnerabilities.

2024 saw a string of crypto hacks, with DMM Bitcoin, WazirX: India, and Munchables topping the list for biggest losses, highlighting cybercriminals' exploitation of crypto vulnerabilities.

LARGEST CRYPTO HACKS IN 2024

#DMMBitcoin #WazirX #Munchables #BtcTurk #RadiantCapital #Hedgey #BingX #Penpie #FixedFloat #Thala

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These hacks resulted in billions of dollars in losses for the prominent crypto projects, leaving the platforms and investors grappling with the recovery of the stolen funds. Such events underscore the need for robust measures to curb cybercriminal activities in the future.

DMM Bitcoin Incurs the Largest Loss of $305M in Crypto Hacks of 2024

According to Phoenix Group’s listing of projects incurring the biggest losses, the DMM Bitcoin project topped the list with a colossal loss of $305 million. The hack occurred on May 31, and the compromised private key enabled the exploitation.

Following this, WazirX: India incurred a loss of $234.9 million due to a hack on July 18. The attacker reportedly used a phishing technique through a multisig wallet to pilfer the users' hard-earned funds.

In another incident, Munchables faced a storage slot-related exploit on March 26, where a hacker stole $62.5 million. Moreover, on June 22, a hacker compromised BtcTurk's private keys to exploit $54 million. Radiant Capital recorded a loss of $53 million when a hacker exploited its access control on October 16.

Thala Incurs the Minimum Loss among 2024’s Top 10 Crypto Exploits

Phoenix Group's listing continues with Hedgey as the sixth crypto project to incur the biggest crypto losses in a hack. On April 16, a hacker performed a flashloan exploit and drained $44.7 million. In another event, BingX's hot wallet was exploited on September 20, with the attacker stealing $43.3 million.

A couple of weeks prior to this incident, a hacker carried out a reentrancy exploit on Penpie and stole $27 million on September 3. Furthermore, on February 18, a hacker compromised FixedFloat's private keys to siphon $26.1 million. Finally, Thala Labs was hit by a liquidity pool exploit on November 15, incurring a loss of $25.5 million.