The post over $2 billion lost in hacks in the first quarter of 2025 appeared on BitcoinEthereumNews.com.

The first quarter of 2025 ends with an alarming balance in the crypto world: over 2 billion dollars have been stolen due to security breaches and hacks, largely related to flaws in access control systems.  An impressive figure, which almost matches the entire amount lost in all of 2024. From the blockchain to the infrastructure: the hidden vulnerabilities causing the crypto hacks of 2025  Heavily influencing the numbers of this first quarter was the 1.4 billion dollar attack on the exchange Bybit, identified as the single most serious event of these months. According to the report compiled by Hacken, a company specializing in cybersecurity in the crypto sector, 1.63 billion dollars of the total losses are attributable to access control exploits, with the attack on Bybit alone accounting for the majority of them. The vice president of investigations at AMLBot, Anmol Jain, explained that the enormous extent of the losses, in particular, is attributed precisely to this devastating incursion.  Responsible for the attack would be North Korean hackers, protagonists of increasingly sophisticated and large-scale operations. The infiltration represented a turning point for the sector, also because it showed how cybercriminals had access to over 11,000 cryptographic wallets, used to conceal and launder the stolen funds.  A vast network, capable of transforming a single weakness into a billion-dollar damage. A key aspect highlighted by Hacken is that on-chain code security alone is no longer enough.  The entire ecosystem, including the interfacce utente, the processi interni, and the management tools, must be secured. Just one single flaw in a part of the chain is enough to compromise the entire system. The report highlighted how, in recent months, large centralized and decentralized platforms have been affected equally.  No one is truly safe: the breaches have involved operational issues, weaknesses in access controls, and,…

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Filed under: News - @ April 2, 2025 7:24 pm