Year in review
2023 in crypto failure
Every CryptoMortem record with a primary date in 2023, ordered chronologically. Affected funds across these records total roughly $3.8 billion.
Stake.com Hot-Wallet Hack — September 2023
The Australian-licensed crypto-betting platform lost ~$41M to a hot-wallet compromise attributed by the FBI to North Korea's Lazarus Group. Customer balances were unaffected.
$41.0M affectedMultichain Bridge Disappearance — July 2023
The cross-chain bridge stopped processing transactions and approximately $130M was drained from bridge contracts after its founder and CEO Zhaojun He was reportedly detained by Chinese authorities.
$130.0M affectedAtomic Wallet Hack — June 2023
Approximately 5,500 users of the Estonian non-custodial Atomic Wallet lost a combined ~$100M in June 2023, in an attack attributed by Elliptic and US law enforcement to North Korea's Lazarus Group.
$100.0M affectedEuler Finance Hack — March 2023
A flash-loan exploit of a missing solvency check drained $197M from the Ethereum money market — and was returned in full within three weeks after the protocol's public negotiations with the attacker.
$197.0M affectedUSDC Depeg — March 2023
When Silicon Valley Bank was seized by US regulators on 10 March, Circle disclosed $3.3 billion of USDC reserves were stuck at the bank — and USDC traded as low as $0.87 over the weekend before federal backstop assurances restored the peg.
$3.30B affected