{"id":21590,"date":"2025-02-27T18:33:39","date_gmt":"2025-02-27T16:33:39","guid":{"rendered":"https:\/\/forklog.com\/en\/immunefi-reports-february-crypto-losses-of-1-53-billion-due-to-bybit-hack\/"},"modified":"2025-02-27T18:33:39","modified_gmt":"2025-02-27T16:33:39","slug":"immunefi-reports-february-crypto-losses-of-1-53-billion-due-to-bybit-hack","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/immunefi-reports-february-crypto-losses-of-1-53-billion-due-to-bybit-hack\/","title":{"rendered":"Immunefi Reports February Crypto Losses of $1.53 Billion Due to Bybit Hack"},"content":{"rendered":"<p>Cryptocurrency projects suffered losses of $1.53 billion from hacks in February, a figure 20 times greater than the previous month&#8217;s $73.9 million, according to a report by <a href=\"https:\/\/immunefi.com\/research\/\">Immunefi<\/a>.<\/p>\n<p>Compared to the previous year, this figure has surged 18-fold from $81.6 million.<\/p>\n<p>Excluding the <a href=\"https:\/\/forklog.com\/en\/news\/bybit-exchange-suffers-1-46-billion-loss-in-hack\">Bybit hack<\/a>, the crypto industry&#8217;s losses in February amounted to just $68.3 million.<\/p>\n<p>The incident surpassed the three largest attacks on <span data-descr=\"centralized exchanges\" class=\"old_tooltip\">CEX<\/span>, including Coincheck in 2018 ($534 million), Mt. Gox in 2014 ($470 million), and FTX in 2022 ($415 million), when $415 million was siphoned off while the exchange was undergoing bankruptcy proceedings.<\/p>\n<p>The remaining losses were due to hacks of DeFi protocols <a href=\"https:\/\/forklog.com\/en\/news\/infini-stablecoin-bank-hacked-for-49-5-million-usdc\">Infini<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/compromised-zklend-protocol-offers-hacker-960000-reward\">zkLend<\/a>, Ionic Money, <a href=\"https:\/\/forklog.com\/en\/news\/abstract-reveals-cardex-hack-losses\">Cardex<\/a>, Four.Meme, Cashverse, BankX, and GoldReserve NFT.<\/p>\n<p>No cases of fraud were recorded.<\/p>\n<p>Earlier, EmberCN specialists <a href=\"https:\/\/forklog.com\/en\/news\/bybit-repays-bitget-loan-of-40000-eth-2\">estimated<\/a> that 18% of the funds stolen from Bybit were laundered by the perpetrators. On the same day, the exchange returned a loan of 40,000 ETH to Bitget.<\/p>\n<p>Previously, cypherpunk Adam Back linked the <a href=\"https:\/\/forklog.com\/en\/news\/adam-back-attributes-bybit-hack-to-evm-flaws\">incident<\/a> to &#8220;improper EVM design.&#8221;<\/p>\n<p>Later, Sygnia analysts <a href=\"https:\/\/forklog.com\/en\/news\/safe-infrastructure-vulnerability-blamed-for-bybit-breach\">reported<\/a> that the cause was a vulnerability in the Safe infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency projects suffered losses of $1.53 billion from hacks in February, a figure 20 times greater than the previous month&#8217;s $73.9 million, according to a report by Immunefi. Compared to the previous year, this figure has surged 18-fold from $81.6 million. Excluding the Bybit hack, the crypto industry&#8217;s losses in February amounted to just $68.3 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1644,1252],"class_list":["post-21590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-immunefi","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21590"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21589"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}