💥 The Biggest Losses in Crypto History

Several major events have caused massive financial damage, shaken investor confidence, and reshaped the crypto landscape. Here are some of the most notable ones:

🔥 1. Mt. Gox Hack (2014)

Loss: ~850,000 BTC (worth billions of dollars today)

What happened? At the time, Mt. Gox was the largest Bitcoin exchange. It was hacked and eventually went bankrupt.

Impact: A huge blow to trust in Bitcoin. Prices plummeted.

🔥 2. Terra / LUNA Collapse (2022)

Loss: Between $40–60 billion in market value evaporated

What happened? Terra’s algorithmic stablecoin UST lost its peg, triggering the collapse of LUNA (down over 99%).

Impact: Massive investor losses. Several crypto funds (3AC, Celsius, Voyager) went bankrupt in the aftermath.

🔥 3. FTX Exchange Collapse (2022)

Loss: ~$8–10 billion in customer funds missing

What happened? FTX misused customer deposits. CEO Sam Bankman-Fried was convicted of fraud.

Impact: Sparked regulatory crackdowns worldwide and eroded trust in centralized exchanges.

🔥 4. Ronin Network Hack (Axie Infinity – 2022)

Loss: ~$620 million

What happened? Hackers exploited private keys to compromise Ronin, the blockchain behind Axie Infinity.

Impact: Shook confidence in GameFi and NFT-based gaming projects.

🔥 5. Poly Network Hack (2021)

Loss: ~$610 million

What happened? Poly Network, a cross-chain bridge, was hacked. Interestingly, the hacker later returned most of the stolen funds.

Impact: Highlighted vulnerabilities in cross-chain infrastructure.

💥 The Biggest Losses in Crypto History

Several major events have caused massive financial damage, shaken investor confidence, and reshaped the crypto landscape. Here are some of the most notable ones:

🔥 1. Mt. Gox Hack (2014)

Loss: ~850,000 BTC (worth billions of dollars today)

What happened? At the time, Mt. Gox was the largest Bitcoin exchange. It was hacked and eventually went bankrupt.

Impact: A huge blow to trust in Bitcoin. Prices plummeted.

🔥 2. Terra / LUNA Collapse (2022)

Loss: Between $40–60 billion in market value evaporated

What happened? Terra’s algorithmic stablecoin UST lost its peg, triggering the collapse of LUNA (down over 99%).

Impact: Massive investor losses. Several crypto funds (3AC, Celsius, Voyager) went bankrupt in the aftermath.

🔥 3. FTX Exchange Collapse (2022)

Loss: ~$8–10 billion in customer funds missing

What happened? FTX misused customer deposits. CEO Sam Bankman-Fried was convicted of fraud.

Impact: Sparked regulatory crackdowns worldwide and eroded trust in centralized exchanges.

🔥 4. Ronin Network Hack (Axie Infinity – 2022)

Loss: ~$620 million

What happened? Hackers exploited private keys to compromise Ronin, the blockchain behind Axie Infinity.

Impact: Shook confidence in GameFi and NFT-based gaming projects.

🔥 5. Poly Network Hack (2021)

Loss: ~$610 million

What happened? Poly Network, a cross-chain bridge, was hacked. Interestingly, the hacker later returned most of the stolen funds.

Impact: Highlighted vulnerabilities in cross-chain infrastructure.