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Crypto Losses Hit $1.53B In February, Driven By $1.4B Bybit Hack: CertiK

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The cryptocurrency sector has undergone stunning losses in February, with scams, exploit and hack for a total of almost $ 1.53 billion, second Blockchain Security Studio Certik. Most Of these losses derived from the attack of $ 1.4 billion on Bybit, marking the greatest encryption robbery in history.

On February 21, the hackers targeted Crypto Exchange Bybit, according to reports, seizing the control of a storage portfolio. Certik attributed the attack on the Lazarus group of North Korea, the same responsible entity of the Hack of Ronin Bridge of 650 million dollars in March 2022.

The FBI later confirmed that the North Korean agents were behind the violation of Bybit and had started to disperse the stolen funds on thousands of blockchain addresses.

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Bybit hack makes crypto losses increased by 1.500% February

The enormous exploitation bybit has significantly tilted the data on the overall loss for February. Compared to January, when the losses were $ 98 million, the February figure represents an increase of almost 1,500%.

Also When Excluding bybit leaks, crypt hacks and scams last month still reached $ 126 million, an increase of 28.5% compared to the previous month.

The second largest hack of the targeted month Infini, a payment company in Stablecoin, with a theft of $ 49 million on February 24.

Certik’s investigation revealed that a key portfolio used in the Exploit had a previous involvement in the development of Intelligent contracts of Infini. The attacker has maintained administrative privileges, allowing them to redeem all the time tokens.

“Exploit highlights a great vulnerability, demonstrating how administration privileges can become a single bankruptcy point,” said Certik in his report on February 27. The company underlined the importance of guaranteeing private keys to prevent similar attacks.

Following the attack, Infini’s team tried to negotiate with the hacker, offering them 20% of the stolen funds in exchange for the restitution and avoid legal consequences.

However, the 48 -hour deadline has long Past and, starting from the latest data from Etherscan, the Hacker portfolio still contains over 17,000 ether, evaluated at around $ 43 million.

The third exploit of the month involved decentralized Zklend loan protocol, which lost $ 10 million against hackers on February 12th.

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Increase in security threats in the cryptocurrency space

Certik identified the portfolio with compromises as the main cause of cryptocurrency losses in February, followed by vulnerability of the code, which involved $ 20 million losses and phishing scams, which represented $ 1.8 million.

While the Crypto hacks had been in a downward trend towards the end of 2024, the huge bybit attack in February rekindled the concerns about the vulnerabilities of safety.

December had previously recorded the lowest monthly losses of the year at $ 28.6 million, falling compared to $ 63.8 million in November and $ 115.8 million in October. However, with the increase in sophisticated computer threats, experts warn that 2025 could see a rebirth in large -scale cryptocurrency exploit.

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Keyway keyway

  • Cryptocurrency losses increased in February, reaching $ 1.53 billion, largely due to the $ 1.4 billion hack bybit.
  • The Lazzaro group of North Korea was behind the violation of the bybit, with stolen funds being Missing on multiple blockchain addresses.
  • The vulnerability of security remain one of the greatest concerns, with compromises of the portfolio and administration privilege exploits that guide the losses.

Post encryption losses reached $ 1.53 billion in February, led by $ 1.4 billion bybit hack: Certik appeared first out of 99bitcoin.

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