All cryptocurrency market players strive to keep their platforms and clients’ wallets as secure as possible. They succeed with varying degrees of success. 

We reviewed the most popular crypto wallets with an impeccable reputation in the “Top Best Crypto Wallets” article. Let’s now try to figure out which wallets are better not to use, since hacker attacks have already been made on them.

Some well-known wallets that have been hacked

1. KuCoin. This major Singapore-based exchange announced a hack worth about $200 million in September 2020. BTC, ERC-20 and other cryptocurrencies were withdrawn from customer wallets. 
2. Coincheck. The hack of the Japanese exchange took place in 2018. Assets worth $534 million were stolen from 260,000 users.Coincheck acknowledged that the attack took place due to technical difficulties and insufficient staffing of the security department. 
3. Solana. In August 2022, there was a major theft from nearly 8,000 customer wallets based on the blockchain. The loss amounted to $8 million. The addresses that had not had any movement for more than six months were hit the hardest.
4. BitKeep. The users lost about $8 million in December of the same year. Unknown people withdrew BNB, USDT, DAI and ETH. According to the developers, the scammers integrated malicious code into the downloadable APK file of the e-wallet.
5. Deribit. The exchange suspended withdrawals in the fall of 2022 after a $28 million attack on hot wallets. The exchange is very popular with traders because of its low commissions.
6. Horizon. Last June, hackers managed to compromise the private keys of Horizon Bridge and steal assets in Ethereum worth about $100 million. Harmony, the owner of the project, promises a $1 million reward for the return of the withdrawn funds and technical details of the attack. At the same time, the company guarantees not to bring criminal charges.
7. Binance. Its users lost 7,000 Bitcoins, as well as API keys and multifactor authentication codes, as a result of the hack. The attack was a single transaction and was professionally planned by the attackers — the platform’s security systеm sounded the alarm after the money was withdrawn.
8. Poly Network. The amount withdrawn as a result of the cyberattack on the network users in 2021 amounted to $600 million. Assets in Bitcoin, Ethereum and other cryptocurrencies were affected. Fraudsters took advantage of the vulnerabilities in several wallets with large savings.

Choose only legitimate and trusted wallets with minimal risks of hacker attacks. To learn how to make the right choice, read our article “Where to store cryptocurrencies safely”.