Many users “connected” wallets and lost millions
But this doesn’t even make the top 8 biggest crypto hacks
Here are the worst hacks in history - and how to stay safe.
1/
✧ Last night, a suspicious pop-up appeared on CoinMarketCap urging users to “Verify Wallet”
✧ It prompted people to connect their wallets and grant access to ERC-20 tokens - a clear phishing attempt
✧ MetaMask and Phantom quickly warned users by flagging the site as unsafe
✧ The CoinMarketCap team stated they identified and removed the malicious code and are continuing their investigation
2/
✧ According to CoinMarketCap, the attack was executed via malicious JavaScript injected into the frontend, not through a server breach
✧ The script triggered a fake interface that mimicked the site’s real wallet verification prompt
✧ Community alerts spread quickly, helping users avoid major losses
✧ The team posted an official warning on X urging users not to interact with the pop-up
3/
✧ The malicious code was removed within three hours after detection
✧ CoinMarketCap promised to tighten frontend security and increase code review procedures
✧ Users were advised to double-check URLs and avoid signing wallet requests from unknown interfaces
✧ The platform said it’s updating its external script management policy
4/
✧ This isn’t the first incident with CoinMarketCap
✧ In October 2021, a leak exposed the email addresses of over 3.1 million users
✧ CoinMarketCap denied that the breach came from their servers, suggesting a third-party compromise
✧ The data appeared on dark web forums and in the Have I Been Pwned database
5/
✧ Now let’s review the biggest hacks in crypto history
✧ In February 2025, Bybit lost $1.5 billion worth of ETH from a compromised hot wallet
✧ Just a week later, the FBI blamed North Korean hackers, and Bybit launched a compensation plan
✧ The event highlighted the vulnerability of Ethereum-based wallets
6/
✧ In August 2016, Bitfinex was hacked for 119,756 BTC through a hot wallet exploit
✧ Years later, the FBI recovered and seized over 2,000 BTC linked to the theft
✧ It remains one of the rare cases where stolen funds were partially traced and returned
✧ The recovery was worth billions at the time of seizure
7/
✧ The 2014 Mt. Gox hack wiped out over 500,000 BTC from customer balances
✧ The exchange shut down, filed for bankruptcy, and sparked mass panic
✧ This was a turning point that triggered calls for regulation and better security standards
✧ The effects of this event are still felt today across crypto infrastructure
8/
✧ In 2018, Japanese exchange Coincheck lost $534 million worth of NEM through a hot wallet breach
✧ Trading was frozen, and the exchange began working with law enforcement to track funds
✧ The case raised concerns about the use of hot wallets and insufficient internal controls
✧ Many exchanges started building insurance buffers and moving funds to cold storage
9/
✧ In 2021, Poly Network suffered a $610 million exploit - the largest DeFi hack at the time
✧ Interestingly, the hacker returned most of the funds voluntarily, claiming it was “just for fun”
✧ Poly Network offered the hacker a job and implemented stronger smart contract checks
✧ The case became a strange example of ethical hacking in the DeFi world
10/
✧ In March 2022, the Ronin bridge (Axie Infinity) lost $625 million in a breach linked to North Korea’s Lazarus Group
✧ The FBI confirmed the attackers’ identity, triggering global concern
✧ This breach exposed critical weaknesses in cross-chain bridge design
✧ Many teams began shifting to multi-sig and limiting bridge functionality
11/
✧ In June 2022, Harmony’s Horizon Bridge was exploited for $100 million, also linked to Lazarus Group
✧ The pattern showed a strategic focus by attackers on weak bridge infrastructures
✧ This pushed platforms to audit contracts more aggressively and redesign bridge security
✧ Watchdogs increased scrutiny over DeFi security practices post-incident
12/
✧ Final takeaway: no platform is immune, no matter how big or trusted
✧ Always verify URLs, never approve pop-ups blindly, and use 2FA
✧ Developers must audit code, reduce reliance on third-party scripts, and harden bridge security
✧ Users and builders share the responsibility to protect the crypto ecosystem.