Bybit Leads February’s Record $15.1 Billion in Cryptocurrency Hacks Amidst Devastating Breaches

In a troubling development for the cryptocurrency sector, COINOTAG reported on March 1st that February witnessed a staggering 20 hacking incidents, culminating in losses exceeding $15.1 billion. This marks the most catastrophic month on record for digital assets. The most significant breach involved Bybit, which alone accounted for a monumental $14.3 billion in losses, thus establishing itself as the largest hack in the past five years. Other notable security breaches include Infini with losses of $49.5 million, followed by zkLend at $9.66 million, and Ionic and SujiYan with $8.6 million and $4 million lost, respectively. As cryptocurrency continues to attract interest, stakeholders must prioritize security measures to safeguard against these vulnerabilities.