Incident All ledgers
M2 Exchange: $13.7m
M2 Exchange lost $13.7m on 31 October 2024. Ranked 164th of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 31 October 2024
- Lost
- $13.7m
- Returned or repaid
- None recorded
- Target
- CEX
- Category
- Key Compromise
- Method
- Hot Wallet Key Compromised
- Chains
- Ethereum, Solana, Bitcoin
On October 31, 2024, attackers exploited an access control flaw in M2 Exchange's hot wallets on several blockchains, taking about $13.7M in USDT, SHIB and ETH. The exchange caught and froze the breach within 16 minutes and made customers whole from reserves.
Against the ledger
- It ranks 164th of the 1,272 incidents with a known loss, and 21st in 2024.
- It accounts for 13.2% of the $103.5m in known losses in October 2024.
- 153 incidents in the ledger are classified as Key Compromise, for $8.96bn in total. This one is 0.2% of that.
- The ledger records no returned funds.
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 29 Apr 2024 | Rain | $14.8m | CEX | Private Key Compromised | — |
| 08 Apr 2023 | GDAC | $13.9m | CEX | Hot Wallet Key Compromised | — |
| 16 Apr 2026 | Grinex | $13.7m | CEX | Hot Wallet Key Compromised | — |
| 22 Nov 2023 | HTX | $13.6m | CEX | Hot Wallet Key Compromised | — |
| 05 Aug 2026 | KITE Foundation | $13.3m | Wallet | Private Key Compromised | — |
All failures in 2024 · 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, “M2 Exchange, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/m2-exchange-2024-10-31/. How this is built