The 5 Biggest Bitcoin Hacks in History Lessons You MUST Learn Now

The 5 Biggest Bitcoin Hacks in History – Lessons You MUST Learn Now

The 5 Biggest Bitcoin Hacks in History – Lessons You MUST Learn Now

Understanding the ins and outs of the cryptocurrency world is crucial if you wish to protect your investments. Learning from past mistakes made by others is one of the best ways to avoid falling into the same trap. This article dives into “The 5 Biggest Bitcoin Hacks in History,” and the lessons gleaned from these unfortunate events might just save your wallet.

Market Overview for 2025

The crypto market in August 2025 primarily characterized by both various advancements and risks. Even though the market cap exceeds $2.5 trillion, there are several potential pitfalls investors need to be aware of.

The Biggest Bitcoin Hacks in History and The Lessons Learned

In cryptocurrency’s relatively short life, there have been frequent security incidents that led to significant amounts of wealth disappearing overnight. Let’s shed light on the five biggest Bitcoin hacks and the lessons learned.

The Mt. Gox Hack (2014)

The first and largest Bitcoin heist was the Mt. Gox hack. Approximately 740,000 bitcoins, which was about 6% of the circulating Bitcoin at the time, was stolen. Despite several security protocols, the exchange failed to prevent unlawful withdrawals from their system.

Lesson Learned:

Trusting exchanges comes with significant risks, and it’s crucial to keep only a minimal amount of coins on the platforms. Secure storage methods, like hardware wallets, are essential to maintaining your cryptocurrency investments.

Bitfinex Hack (2016)

The hack on Bitfinex was another big hit on the cryptocurrency community. Approximately 120,000 Bitcoin, worth around $72 million at the time, were lost due to security breaches.

Lesson Learned:

Multi-signature security measures can still be harnessed by attackers and shouldn’t be the only form of security relied upon. Ultimately, private wallets provide the most security for your cryptocurrency investments.

The Coincheck Hack (2018)

In 2018, over $534 million worth of NEM was stolen from the Japanese cryptocurrency exchange, Coincheck. The funds were stored in a hot wallet—a wallet connected to the internet—which made them easy targets for hackers.

Lesson Learned:

Storing cryptocurrency in a hot wallet, especially in large amounts, exposes the funds to unnecessary risk. Cold storage wallets are a far safer choice, as they are not connected to the internet and, consequently, are much harder for hackers to access.

Binance Hack (2019)

Binance experienced a security breach in which hackers were able to withdraw 7,000 Bitcoins worth about $40 million. The hackers used a variety of attack methods, including phishing and viruses, to get hold of a large number of user API keys and 2FA codes.

Lesson Learned:

Having a robust security suite is imperative to safeguard your cryptocurrencies. This includes secure passwords and two-factor authentication (2FA). Always change passwords regularly and avoid clicking on suspicious links.

KuCoin Hack (2020)

KuCoin, a cryptocurrency exchange based in Asia, lost over $280 Million due to a security breach in 2020. Fortunately, the exchange was able to retrieve around 80% of the stolen funds through a combination of tracing the funds, hard forking, and swapping out tokens.

Lesson Learned:

Choose an exchange with a proven security record and a plan for recovering stolen funds. In addition to protecting your funds, you should also consider keeping a dedicated email for your crypto activities.

To prevent being a victim of these cryptocurrency security breaches, take crucial steps to enhance your cryptocurrency security. Learn more techniques and tricks on How to Buy Bitcoin Smarter in 2025 – Stop Overpaying & Start Winning.

Final Thoughts

As the digital currency market continues to expand, it is actively targeted by hackers. Therefore, understanding these “5 Biggest Bitcoin Hacks in History” can offer valuable lessons and strategies to protect your investments. Remember, the safety of your funds is ultimately in your hands. Stay informed and stay secure. Keep exploring Beat the Bitcoin Emotional Rollercoaster – The HODL Psychology Hacks on our site for more tips.

*This article includes input from tools and editorial review by bıtcoin writing team.