Crypto industry faced significant losses of $1.5B in February due to hacks and scams

From Cointelegraph
March 3, 2025 01:06:56 AM:

In February, losses from crypto scams, exploits, and hacks reached $1.53 billion, with the $1.4 billion Bybit hack being the biggest contributor, according to CertiK. Bybit’s attack by North Korea’s Lazarus Group was the largest ever, surpassing the $650 million Ronin bridge hack from March 2022. Excluding Bybit, other losses totaled over $126 million, a 28.5% increase.

Bybit, Infini, and ZkLend were the top three in losses in February. Bybit confirmed attackers took control of a storage wallet, with the FBI later confirming North Korea’s involvement. Infini lost $49 million in a hack, with CertiK highlighting the vulnerability of admin privileges as a major issue in blockchain security.

A report from CertiK showed that ZkLend lost $10 million in an exploit, making it the third-largest loss in February. Wallet compromises were the top category for losses, followed by code vulnerabilities and phishing attacks. Losses from crypto scams, exploits, and hacks were on a decline in the last days of 2024.

The Infini team offered the hacker a deal to return the stolen funds and avoid legal consequences, but there has been no public announcement on whether the hacker plans to accept the offer. Bybit hackers have resumed money laundering activities, moving 62,200 ETH. Overall, the crypto industry faced significant losses due to various security breaches and hacks in February.

Read more at Cointelegraph: Crypto lost to exploits, scams, hits $1.5B in February with Bybit hack: CertiK