- More than $ 1.5 billion
- Most of the funds were lost in bybit hack
- Wallet Compromis is the most common way people lose their crypto
When it comes to scams and theft, Crypto has not had a good year so far. Just in the first quarter of the year, hackers stole more than $ 1.67 billion across 197 security events. This is, according to a new report, published by Blockchain Cybersecurity PROS certificate.
The Q1 2025 HACK3D report says the figure represents an increase of 303.38% compared to the previous quarter. Across the industry, the average loss per Event $ 9,549,339, Certique also said, while the medical loss per Event was $ 66.303.
The total value of the returned funds was $ 6,390,698, led to adjusted total loss of $ 1,662,600,186 for the quarter. Unfortunately, only 0.4% of stolen funds were returned to customers, but it’s basically how blockchain works as most transactions are irreversible.
Wake up calls
Without a wider context, however, these numbers could be a little misleading. Almost all of the stolen money fell on just one event – Bybit hacket at the end of February 2025.
Bybit, a major cryptocurrency exchange, lost $ 1.5 billion in Ethereum, in an attack attributed to North Korea’s state-sponsored Lazarus group. The hackers infiltrated Safe {Wallet} ‘s infrastructure and injected malicious JavaScript who deceived bybit’s security team to approve unauthorized transactions.
Lazarus is one of the world’s most notorious threat actors who implement enormous state resources to steal cryptocurrencies, which are then used to finance the government’s state apparatus and its weapons program.
“Hackers are using increasingly sophisticated techniques, and it is now more important than ever for blockchain companies and projects to proactively invest in robust security measures,” said Certificate Co-founder Ronghui GU. The Bybit violation is a wake-up call for the entire industry. Security is not just a competitive advantage – it is a shared responsibility. “
The most expensive attack vector is the wallet comedy, followed by private key promise, code vulnerability and phishing.
