Cryptocurrency Heist Report Reveals Alarming Trends
More than $1.67 billion worth of cryptocurrency has been exfiltrated across nearly 200 heists between January and March, marking a staggering 303% increase compared to the previous quarter. This is the highest amount of pilfered digital assets on record, according to a report by Infosecurity Magazine.
Key Factors Behind the Surge
The majority of this increase can be attributed to the massive Bybit attack in late February, which alone resulted in the loss of over $1.4 billion. Other significant intrusions occurred against Phemex, 0xInfini, MIM Spell, and zklend, which also recorded substantial losses.
According to an analysis from blockchain security firm CertiK, the primary targets for these attacks were Ethereum, followed by the Binance Smart Chain, Arbitrum, and Tron. The most impactful attack vector was wallet compromise, despite it being used in only three crypto-targeted intrusions.
CertiK co-founder Ronghui Gu emphasized that these findings should prompt blockchain firms to be more proactive in their security measures.
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