February 2025 noticed one of many worst months for cryptocurrency safety breaches, with roughly $1.5 billion misplaced to exploits, hacks, and scams, in line with blockchain safety agency CertiK.
Notably, probably the most important incident was the Bybit trade breach, marking the biggest recorded exploit for the reason that 2022 Ronin Bridge hack, which was linked to the North Korean Lazarus Group.
Breakdown of Main Crypto Losses
The biggest single assault in February was the Bybit exploit, which resulted in a lack of over $1.4 billion. Different notable breaches included:
- OxlInfinity: $49.5 million
- zkLend: $9.5 million
- Ionic: $8.6 million
- Cardex: $400,000
These incidents collectively contributed to probably the most financially damaging months in latest crypto historical past.
CertiK Report: Forms of Crypto Assaults
CertiK’s evaluation categorizes February’s losses by assault kind. Pockets compromises accounted for probably the most substantial losses at $1.5 billion, adopted by code vulnerabilities ($20.3 million), phishing ($1.9 million), and entry management exploits ($668,232).
From a broader perspective, the losses by kind of platform had been:
- Centralized exchanges: $1.49 billion
- Decentralized finance (DeFi) platforms: $19.1 million
- Tackle poisoning scams: $1.47 million
- Meme cash: $559,137
- Pockets drainer malware: $483,399
Assault Strategies: Flash Loans and Phishing
Flash mortgage assaults, a technique the place attackers borrow massive quantities of uncollateralized funds to govern markets, resulted in a notable loss improve in comparison with earlier months.
February’s losses from this assault kind exceeded $2 million, marking a growing trend in DeFi vulnerabilities.
As well as, phishing assaults, the place scammers deceive customers into revealing personal keys or signing malicious transactions, brought on over $1.9 million in losses.
Market-Extensive Influence of the Crypto Losses
CertiK’s February report highlights the vulnerabilities that proceed to plague the cryptocurrency sector. With Bybit’s breach rating among the many worst in historical past, safety consultants emphasize the necessity for enhanced measures, together with:
- Strengthened trade safety protocols
- Elevated person consciousness on phishing scams
Learn: CZ Warns of Multi-Sig Cold Storage Vulnerabilities After Bybit Hack
Regardless of these losses, no funds had been reported as recovered in February 2025 per CertiK Alert’s report, elevating considerations in regards to the effectiveness of present anti-hack responses.
