Crypto Investors Lost $1.67B to Hacks & Exploits in Q1: CertiK

CertiK, a blockchain security firm, has reported that cryptocurrency investors lost approximately $1.67 billion to hacks and exploits in the first quarter of 2025.

This figure represents a significant increase of 303% compared to the previous quarter.

The Bybit breach, valued at $1.45 billion, was a major contributor to these losses, accounting for a substantial portion of the total.

The $1.67 billion lost in Q1 2025 is nearly two-thirds of the total amount stolen throughout 2024.

The Bybit breach alone accounted for $1.45 billion of the losses, making it one of the largest crypto hacks to date.

Phishing schemes were the most common method of attack, responsible for 81 incidents, while 15 cases involved the compromise of private keys.

The recovery rate for stolen assets was very low, with only 0.38% of the funds being retrieved, compared to 42.09% in the previous quarter.

These findings highlight the growing threat of cyberattacks in the cryptocurrency sector, particularly from state-sponsored actors.

To protect themselves from hacks, crypto investors can take several proactive measures like storing cryptocurrencies offline using hardware wallets like Ledger or Trezor. These are less susceptible to online attacks.

Use of reputable software wallets for quick transactions, but ensure they have strong security features.

Use of 2FA on all crypto-related accounts. Prefer authentication apps like Google Authenticator over SMS-based 2FA due to SIM-swapping risks.

Use of strong, unique passwords for each account and store them securely in a password manager.

Consider using Multi-Factor Authentication (MFA) for added security.

Be cautious of suspicious emails, messages, or phone calls asking for personal or login information.

Verify the authenticity of websites and emails before providing sensitive data.

Regular update of software, hardware, and security tools to patch vulnerabilities.

Follow reputable crypto security blogs and forums to stay informed about emerging threats.

Research exchanges thoroughly to ensure they have robust security measures, such as cold storage and regular audits.

Utilize VPNs to encrypt online traffic and protect against unauthorized access.

Install anti-virus software and firewalls to safeguard devices.

Avoid sharing details about your crypto investments on social media to reduce the risk of being targeted.

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