$USDC

The largest security breach in modern history, where hackers stole approximately 401,346 ETH (valued at around $1.4 billion) on February 21, 2025. However, thanks to rapid sector-wide collaboration and a series of coordinated efforts, 'Paybit' was able to recover a significant portion of the stolen funds and restore the stability of its platform.

The breach and immediate response

In the aftermath of the attack, the cryptocurrency sector mobilized its efforts to trace and freeze the stolen assets. Several key players played an important role in mitigating the losses, as (USDT) identified and froze 181,000 USDT linked to the hacker's address, while THORChain implemented security measures to prevent unauthorized transactions. For its part, ChangeNOW froze 34 ETH suspected to be part of the stolen funds, while FixedFloat froze $120,000 in USDC and USDT in an attempt to prevent further losses. Thanks to these efforts, $42.89 million was frozen within a single day, highlighting the efficiency of the cryptocurrency community in responding quickly to security threats.