According to The Kobeissi Letter, the largest hack in cryptocurrency history occurred at Bybit in 2025, with $1.5 billion stolen. This surpasses previous significant breaches including the Mt. Gox hack in 2011 where 647,000 BTC were lost, valued at $470 million at the time. Other notable incidents include Bitfinex in 2016 and Coincheck in 2018. These events highlight critical vulnerabilities in crypto exchanges, influencing trading strategies and risk assessments.