Exploits and hacks were on the rise this year, with crypto users losing billions of dollars to cybercriminals. Over $1.8 billion was stolen, according to blockchain intelligence firm TRM Labs. Here are the biggest hacks of 2023.
Exploiters targeted China-based decentralized exchange Mixin in late September, making away with over $200 million in various cryptocurrencies. Several decentralized proponents criticized the protocol for being “too centralized.”
Lending protocol Euler Finance was targeted in March, with the hacker using a flash loan to take over $8.5 million in DAI, $33.7 million in USDC, $18.5 million WBTC, and $135.9 million in stETH. Fortunately, the hacker returned the stolen funds a few days after the exploit.
Crypto exchange Poloniex came under attack in November, with the exploiters stealing over $125 million in cryptocurrencies like Tron, TUSD, USDT, and Ethereum. The trading platform would later announce that it had managed to freeze some of the stolen funds.
In June, Atomic Wallet was targeted by North Korean hackers. The incident left users of the non-custodial wallet $100 million short.
Curve, a popular decentralized finance protocol, was attacked in July. Hackers discovered a vulnerability in the code of the Ethereum-based crypto project, causing a $60 million loss. In early August, Curve announced it had successfully recovered 72% of the stolen funds.
KyberSwap, a well-known market maker, was exploited in November, with the attacker stealing crypto worth $50 million. What’s more, the hacker wrote an on-chain letter demanding to take charge of the company behind KyberSwap.
Crypto gambling platform Stake encountered a $40 million attack in September. The stolen funds came from the firm’s wallet and not from users’ wallets. The hackers took $25 million in Polygon and Binance Smart Smart Chain and $16 million in USDT, USDC, DAI, and ETH. A few weeks after the hack occurred, the FBI reported that the notorious North Korean cybercriminal group Lazarus was behind the exploit.
Meanwhile, TRM Labs says this year’s hacks were lower than those recorded in 2022. Last year, crypto users lost over $4 billion to attackers.
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