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<p>The post <a href="https://coinpedia.org/news/crypto-catastrophes-of-2023-the-years-biggest-blockchain-breaches-unveiled/">Crypto Attacks of 2023: The Year’s Biggest Blockchain Breaches Revealed</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>2023 has been marked by a series of significant cyber-attacks in the cryptocurrency industry, with some of the most high-profile breaches causing widespread concern and financial loss. Here’s an overview of the major incidents that defined the year, highlighting the vulnerability of even the most established crypto platforms to sophisticated cyber threats.</p> 
<h3 class="wp-block-heading" id="h-multichain-s-130-million-heist-a-ceo-s-custody-triggers-chaos">Multichain’s $130 Million Heist: A CEO’s Custody Triggers Chaos</h3> 
<ul> 
 <li><strong>Date</strong>: July 7, 2023</li> 
 <li><strong>Amount Lost</strong>: $130 Million</li> 
 <li><strong>Attack Method</strong>: Private Key Compromised</li> 
</ul> 
<p>Multichain, a cross-chain protocol, suffered a massive blow when hackers compromised its private keys, leading to a heist of $130 million. This incident was particularly alarming due to its connection with the custody of CEO Zhaojun by Chinese authorities, who confiscated critical devices and mnemonic phrases.</p> 
<h3 class="wp-block-heading" id="h-euler-finance-s-197-million-flash-loan-fiasco">Euler Finance’s $197 Million Flash Loan Fiasco</h3> 
<ul> 
 <li><strong>Date</strong>: March 13, 2023</li> 
 <li><strong>Amount Lost</strong>: $197 Million</li> 
 <li><strong>Attack Method</strong>: Flash Loan Donate Function Logic</li> 
</ul> 
<p>Euler Finance, an Ethereum-based borrowing and lending protocol, became a victim of a flash loan attack, resulting in the loss of nearly $200 million. The breach targeted various assets, showcasing the vulnerabilities of DeFi protocols.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/crypto-hacking-losses-plunge-by-nearly-50-in-2023-rm-labs-report/">Crypto Hacking Losses Plunged by Nearly 50% in 2023; Here’s Why</a></p> 
<h3 class="wp-block-heading" id="h-mixin-network-database-attack-leads-to-200-million-loss">Mixin Network: Database Attack Leads to $200 Million Loss</h3> 
<ul> 
 <li><strong>Date</strong>: September 23, 2023</li> 
 <li><strong>Amount Lost</strong>: $200 Million</li> 
 <li><strong>Attack Method</strong>: Database Attack</li> 
</ul> 
<p>Mixin Network faced a devastating database attack, resulting in a $200 million loss. This led to a suspension of all withdrawal and deposit services, highlighting the risks associated with peer-to-peer transaction services.</p> 
<h3 class="wp-block-heading" id="h-atomic-wallet-compromised-100-million-stolen">Atomic Wallet Compromised: $100 Million Stolen</h3> 
<ul> 
 <li><strong>Date</strong>: June 3, 2023</li> 
 <li><strong>Amount Lost</strong>: $100 Million</li> 
 <li><strong>Attack Method</strong>: Private Key Compromised</li> 
</ul> 
<p>Atomic Wallet’s security vulnerabilities, including flawed cryptography and issues with the Electron framework, led to a significant breach, with an estimated loss between $35-100 million.</p> 
<h3 class="wp-block-heading" id="h-poloniex-exchange-over-100-million-lost-to-private-key-hack">Poloniex Exchange: Over $100 Million Lost to Private Key Hack</h3> 
<ul> 
 <li><strong>Date</strong>: December 10, 2023</li> 
 <li><strong>Amount Lost</strong>: $100 Million</li> 
 <li><strong>Attack Method</strong>: Private Key Compromised</li> 
</ul> 
<p>Poloniex Exchange, owned by <a href="https://coinpedia.org/news/circle-firmly-declines-unlawful-financial-deals-cuts-off-ties-with-justin-sun-and-tron/">Justin Sun</a>, faced a major security breach. An unknown hacker compromised the platform’s private key, resulting in a substantial loss in various altcoins.</p> 
<p>Read More: <a href="https://coinpedia.org/news/htx-crypto-exchange-drained-of-258-million-post-hack/">HTX Crypto Heist Leads to $250 Outflow: Is Justin Sun’s Empire Crumbling?</a></p> 
<h3 class="wp-block-heading" id="h-heco-bridge-and-htx-97-million-lost-in-dual-exploits">Heco Bridge and HTX: $97 Million Lost in Dual Exploits</h3> 
<ul> 
 <li><strong>Date</strong>: November 22, 2023</li> 
 <li><strong>Amount Lost</strong>: $97 Million</li> 
 <li><strong>Attack Method</strong>: Private Key Compromised</li> 
</ul> 
<p>A sophisticated exploit targeted the Heco chain bridge and HTX’s hot wallets, leading to a combined loss of $97 million. This attack involved transfers to external accounts and swaps for Ethereum (ETH).</p> 
<p>These incidents have underscored the critical importance of enhancing security measures within the cryptocurrency industry. As hackers evolve their strategies, the sector responds by fortifying its defenses and seeking to mitigate future threats. For an in-depth analysis of these attacks and a comprehensive look at the trends and patterns in crypto-related cyber threats, <a href="https://coinpedia.org/research-report/crypto-security-breaches-hacks-of-2023-a-detailed-analysis/">refer to CoinPedia’s Hack Report of 2023.</a></p>

Crypto Attacks of 2023: The Year’s Biggest Blockchain Breaches Revealed

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