"Crypto Hacking Losses in Q1 Reach $1.64 Billion...Largest Ever"

It was revealed that the cryptocurrency hacking losses in the first quarter exceeded $1.6 billion.

Web3 security firm Immunefi announced on the 27th that the cryptocurrency hacking losses in the first quarter were tallied at $1.64 billion. Immunefi stated, "(The first quarter) is the worst quarter in the history of cryptocurrency," and "the Bybit hacking was a major cause."

Specifically, the losses in February were the highest at $1.53 billion. The global virtual asset exchange Bybit was significantly impacted by the theft of $1.46 billion worth of cryptocurrency due to hacking. The losses in January and March were tallied at $73.9 million and $27.9 million, respectively.

Immunefi reiterated the need for enhanced security. Immunefi stated, "The scale of this hacking alone shows that state-sponsored hackers are the most urgent threat to the industry," and "the reality that even platforms with verified security are breached highlights the importance of security measures."