Even the largest, most regulated crypto exchanges with billions in trading volume have fallen to hackers. What the history of exchange hacks really teaches us is simple: security isn’t about paperwork — it’s about infrastructure. Anonymous, privacy-first platforms like EXMON that avoid storing personal data often turn out to be far more resilient in the real world.
I. From Mt. Gox to Baybit: How the Giants Fall
When Japan’s Mt. Gox collapsed in 2014, losing 850,000 BTC (worth about $450 million at the time), many chalked it up to the growing pains of a young industry. But over the years, the attacks have become more sophisticated, the losses more massive, and the exchanges more "legit." And still, they keep falling.
Bitfinex (2016) — 119,756 BTC
At the time, this was one of the biggest hacks ever. Attackers exploited a vulnerability in BitGo’s multisig system. The fallout lasted for years, and even partial reimbursements couldn’t restore user trust.
Coincheck (2018) — $530 million
One of the biggest thefts in crypto history: hackers stole NEM tokens worth over half a billion dollars. The cause? Funds were kept in hot wallets with weak protection. The exchange was licensed — and still got breached.
Binance (2019) — $40 million
Even Binance — the titan of crypto — wasn’t immune. Hackers stole BTC by gaining access to APIs, 2FA tokens, and private keys through a coordinated phishing campaign.
KuCoin (2020) — $281 million
KuCoin later claimed it recovered 84% of the stolen funds, but provided almost no details.
FTX (2022) — $400+ million*
FTX wasn’t officially hacked before its collapse. But just hours after filing bankruptcy, hundreds of millions mysteriously vanished. Initially blamed on “insider activity,” later reports pointed to an actual hack. No one really knows the final number. What we do know is — those millions are gone.
Baybit (2025) — the latest nightmare
The most recent disaster hit Baybit, one of the top global exchanges with billions in daily volume. Despite licenses, audits, and a so-called elite cybersecurity team, they lost about $1.5 billion in crypto — including 401,347 ETH, 90,376 stETH, 15,000 cmETH, and 8,000 mETH.
👁 The Real Question: What About Your Data?
When $500 million disappears from an exchange, do you really think the hacker’s going to ignore the database full of names, selfies, and passports?
Between 2021 and 2024, full KYC data dumps from major exchanges popped up across the dark web — often not from hacks, but through shady third-party vendors.
II. Why Licenses Don’t Mean Safety
Investors love to think that a licensed exchange means a safe exchange. But history proves otherwise.
Licenses are paperwork. At best, they confirm the exchange meets bureaucratic standards. But hackers don’t care about certificates. They exploit code, hot wallets, weak infra — and a centralized exchange with user data is a jackpot.
III. The Worst Part Isn’t Losing Crypto
Most users only think about their account balance. But when your KYC data gets stolen, the real damage begins:
- Your passport could be used to take out loans in your name
- Your selfie might be used to pass KYC somewhere else
- Your personal info could be sold over and over again in dark web markets
And ask yourself: how many breaches went unreported because the exchange stayed silent?
IV. EXMON: 8 Years, 0 Incidents
Now compare that with EXMON: in 8 years, not a single successful hack. There have been dozens — maybe hundreds — of attempts. But not one breach. Not one leaked ID. Not one lost coin.
Why? Because EXMON’s security isn’t based on brand or license — it’s based on hardened architecture and total privacy.
V. Final Truth: Big Doesn’t Mean Safe
Binance, FTX, Bitfinex, Coincheck, Baybit — all top-tier exchanges. All had licenses, audits, legal teams, internal policies, millions of users. Didn’t matter.
They all lost billions.
🧠 Think About This:
If you trust an exchange that asks you to:
- Upload your passport
- Do a video selfie
- Link your bank account
…but can’t even secure their own servers, then who’s really crazy — you, or the exchange?
🏁 Final Words
If history teaches us anything, it’s this: It doesn’t matter how popular, licensed, or rich your exchange is — it can still get hacked.
It happened to Mt. Gox.
It happened to Bitfinex.
It just happened to Baybit.
And it might be happening right now to your exchange.
🔐 Choose architecture over reputation.
🧱 Choose real security over fancy regulation.
🛡 Choose resilience over branding.
Want to not see your exchange in the next headline?
Step into a world where that headline isn’t possible.
EXMON. 8 years. 0 incidents. 100% privacy.
