Incident All ledgers
IRA Financial / Gemini: $36.0m
IRA Financial / Gemini lost $36.0m on 12 February 2022. Ranked 92nd of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 12 February 2022
- Lost
- $36.0m
- Returned or repaid
- None recorded
- Target
- CEX
- Category
- Frontend & Infrastructure
- Method
- API Key Compromised
- Chains
- Ethereum
Attackers took IRA Financial's master API key from unencrypted emails exchanged with Gemini, pooled sub-account funds into one account, and withdrew about $36M in Bitcoin and Ether within two hours before Gemini could freeze accounts.
Against the ledger
- It ranks 92nd of the 1,272 incidents with a known loss, and 14th in 2022.
- It accounts for 8.9% of the $404.1m in known losses in February 2022.
- 93 incidents in the ledger are classified as Frontend & Infrastructure, for $7.49bn in total. This one is 0.5% of that.
- The ledger records no returned funds.
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 09 Sept 2025 | SwissBorg | $41.5m | CEX | API Key Compromised | — |
| 18 Jan 2022 | Crypto-com | $33.7m | CEX | Session Key Compromised | — |
| 21 Jun 2018 | Bithumb | $31.0m | CEX | Key Leaked via Infrastructure | — |
| 12 Jul 2019 | BitPoint | $27.6m | CEX | Key Leaked via Infrastructure | — |
| 16 Jul 2025 | BigONE | $27.0m | CEX | Supply Chain Attack | — |
All failures in 2022 · The failures ledger
Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.
Cite this Bitminer.io, “IRA Financial / Gemini, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/ira-financial-gemini-2022-02-12/. How this is built