Bitget Reports a $350 Million Crypto Theft, Reviving Concerns Over Exchange Security | Ukraine news
From a record-breaking Ethereum haul to a Tokyo exchange collapse, past attacks show how one breach can reshape the crypto market.
Crypto exchange Bitget said about $350 million in cryptocurrency had been stolen from its platform. The incident has once again drawn attention to the crypto industry’s vulnerability to hacking attacks.
As informed by Reuters
According to researchers at TRM Labs, cryptocurrency worth $2.9 billion was stolen in nearly 150 separate attacks last year. In July 2026, authorities also warned that organized criminal groups were using cryptocurrencies to move funds quickly across borders, bypassing the traditional financial system.
Some of the biggest cryptocurrency thefts since bitcoin emerged in 2008 have involved hacks of exchanges and blockchain projects, causing losses of hundreds of millions and even billions of dollars.
Bybit: $1.5 billion in ether stolen
In February 2025, a record $1.5 billion in ether was stolen from the Bybit exchange. Researchers called it the largest cryptocurrency theft at the time.
The U.S. Federal Bureau of Investigation blamed North Korea for the attack. According to the agency, the stolen funds were quickly converted into other cryptocurrencies and then spread across thousands of addresses on several blockchains. North Korea denied involvement in cryptocurrency heists.
Poly Network: $610 million stolen
In August 2021, about $610 million was stolen from the Poly Network platform, which facilitated peer-to-peer token transfers. The hackers later returned almost all of the stolen funds.
The hack highlighted the risks in decentralized finance, or DeFi. These services allow people to lend, store and transfer digital assets without traditional intermediaries such as banks and exchanges.
Ronin Network: attack on the Axie Infinity game’s blockchain
In March 2022, cryptocurrency worth about $540 million at the time was stolen from the Ronin blockchain project. The project was linked to the popular online game Axie Infinity.
The Ronin network allows cryptocurrency to be transferred between different blockchains. According to the network, the attackers stole about 173,600 ether tokens and 25.5 million USD Coin tokens.
Coincheck: $530 million stolen
In January 2018, hackers stole cryptocurrency worth about $530 million at the time from the Tokyo-based Coincheck exchange. The attackers targeted one of the exchange’s online wallets and took the funds. The incident drew attention to the security of cryptocurrency platforms.
At the time, South Korean intelligence said a North Korean hacking group may have been behind the attack.
Mt. Gox: bitcoin theft in Tokyo
Between 2011 and 2014, bitcoins worth nearly $500 million were stolen from the Tokyo-based Mt. Gox exchange. It was the world’s largest bitcoin exchange at the time, and the hack became one of the most notorious in the early history of cryptocurrency.
Mt. Gox once handled 80% of global bitcoin trading. In early 2014, the exchange declared bankruptcy after the theft came to light. About 24,000 customers lost access to their funds.
These incidents show that large amounts of digital assets remain targets for criminals, and the consequences of attacks can extend far beyond the losses suffered by any one platform.
