Crypto Theft Sees 303% Quarterly Jump After Record Bybit Hack
Cryptocurrency thefts surged by 303% during the first quarter to $1.67 billion.
That jump was primarily driven by the historic billion-dollar hack on the Bybit exchange, Seeking Alpha reported Saturday (April 5), citing data from blockchain security firm CertiK.
This figure represented 197 hacks during the first quarter of the year, six more than the previous quarter, the report said. Around 98 of those incidents involved ethereum, a key player in the decentralized finance space that makes it a popular target for hackers.
Bybit announced in February that it had suffered the largest crypto theft on record, with hackers stealing $1.45 billion worth of digital assets from its ethereum wallet.
“The fallout from Bybit’s…
