The 10 Most Gripping Major News Events in Crypto History

1. FTX Collapse (2022)
Once the world’s second-largest cryptocurrency exchange, FTX filed for bankruptcy suddenly in November. Founder SBF misused billions of dollars of user funds. The platform collapsed overnight and countless users could not withdraw their assets. SBF was later convicted of multiple fraud charges. It is the most sensational collapse of a centralized exchange, which severely damaged market trust in centralized trading platforms.

2. Terra LUNA Crash (2022)

The algorithmic stablecoin UST lost its 1:1 peg to the US dollar and triggered a death spiral. The price of LUNA crashed from nearly $1 to almost zero within a few days. Over $40 billion in market value evaporated rapidly, and numerous retail investors suffered huge losses. The incident hit the DeFi sector hard and pushed global regulators to examine the risks of algorithmic stablecoins.

What were the impacts caused by the largest hacking incident in the cryptocurrency world? Full report: https://enc1.news/

3. Bybit Massive Hack (2025) | $1.46 Billion Loss

This is the largest single crypto theft in history. The Lazarus Group from North Korea used supply-chain attacks and front-end interface deception to break into the Safe multi-sig cold wallet and stole large amounts of ETH and stETH. It broke the industry consensus: even cold wallets combined with multi-signature protection are not 100% secure.

4. Mt.Gox Hack (2014)

Mt.Gox was the world’s largest Bitcoin exchange at that time. Around 850,000 Bitcoins were stolen and the exchange went bankrupt directly. Bitcoin prices plummeted. This incident promoted basic industry security standards including hot/cold wallet separation and proof of reserves. Creditor compensation work has lasted for more than a decade.

What was the detailed process of the largest hacking incident in the cryptocurrency world's history? Full report: https://enc1.app/

5. Ronin Network Attack (2022) | $625 Million Loss

Ronin Network, the sidechain for the blockchain game Axie Infinity, was hacked. Hackers obtained the private keys of 5 validator nodes through social engineering and transferred more than 170,000 ETH. The event dealt a heavy blow to the GameFi sector and exposed the fatal security risks caused by too few sidechain validator nodes.

What was the detailed process of the largest hacking incident in the cryptocurrency world's history? Full report: https://enc1.app/

6. Poly Network Cross-chain Attack (2021) | $613 Million Loss

Hackers exploited contract vulnerabilities to steal massive funds across multiple blockchains. Surprisingly, the hacker returned almost all the stolen assets afterwards, claiming to only remind the industry of existing loopholes. It became a landmark event for cross-chain security and attracted widespread discussion worldwide.

7. Bitcoin’s Historic Bull & Bear Market Swings

Two major bull markets took place in 2017 and 2021. Bitcoin’s price surged sharply, drawing many ordinary people into the crypto market. Afterwards, prices crashed rapidly. The huge contrast between getting rich quickly and forced liquidation has always been one of the most discussed topics in the crypto space.

8. Coincheck Hack (2018) | $534 Million Loss

The hot wallet of Japan’s leading exchange was breached by hackers, and a large amount of NEM tokens were stolen. It directly accelerated crypto regulatory legislation in Japan and alerted the industry to the huge risk of storing large funds in hot wallets connected to the internet.

9. Wormhole Cross-chain Bridge Attack (2022) | $320 Million Loss

Hackers forged cross-chain credentials and minted wETH without authorization. The project team covered all losses at its own expense. This case became a classic warning example for cross-chain bridge security in DeFi.

10. The Ethereum Merge (2022)

Ethereum switched from Proof-of-Work to Proof-of-Stake. It is the biggest underlying protocol upgrade in crypto history. It changed Ethereum’s mining model and triggered heated discussions about ETH value and energy consumption. This is a milestone event of the whole industry.