Crypto’s disadvantage damaged a total of $ 1.53 billion in February, with the three largest feats baibit, Infini and Zklend hacks.
As CertificationCrypto’s disadvantage represented a total amount of $ 1.53 billion in February, an increase in losses in January to about 1,500% from $ 98 million. Except for the loss of bibit, other crypto deficit in February had an amount of more than $ 126 million, yet increased by 28.5% from last month.
The biggest disadvantage, stems from Hack of Bybit on 21 February, which was held responsible for North Korea’s Lazarus Group. Out of $ 1.53 billion in total damage, Bybit Hack covered a distance of $ 1.4 billion. This hack became the largest crypto hack crossing the $ 650 million Ronin Bridge Hack in March 2022 – which was also associated with Lazarus. After hack, stolen funds were looted using a crypto mixer. As the latest update, Lazarus has now looted almost all stolen funds.
The second biggest disadvantage Stabelcoin originated from the February.24 hack of Neobank Infini, resulting in a loss of $ 49.5 million. Cyvers attributed a developer to exploitation, which maintained administrator rights after helping to establish a smart contract. Three months later, the developer used these rights to dry the funds in the funded wallet through the Crypto Mixer Tornado Cash. Infini is still trying to recover the stolen funds. The company left a message to the hacker, warned that it would take legal action and freeze the stolen funds if necessary. Neobank also offered a 20% prize to the hacker to return the stolen property, which was complied with a 48 -hour time limit. The deadline has passed for a long time, but the funds are still in the possession of the hackers.
At third place, the February .12 exploitation of Zklend resulted in loss of atherium (eth) worth $ 9.5 million. Similar to Infini, Zklend offered a reward to the hacker, which asked for a return of 90% of the stolen fund, the hacker allowed to keep 10%. The latest update about Zklend hack is that a recovery portal has been opened for affected users. However, the funds are still in the possession of the hackers.
In addition to February loss due to hack, Cartic also reported that the wallet agreement was the top category for loss. This was followed by code weaknesses, causing $ 20 million to damage. The stolen funds resulted in $ 1.8 million as a result of the fishing attacks.
