Bybit News: Cryptocurrency Scams and Hacks See Dramatic Decline in March 2025

In a surprising turn of events, the cryptocurrency space has witnessed a significant decrease in scams and hacks in March 2025. The decline comes after a particularly turbulent February, which saw massive losses due to a notable hack involving Bybit. Here’s a closer look at the latest developments.

Crypto scams down by 98% in March 2025

Crypto scam and hack losses dropped significantly to $28.8 million in March, a dramatic decline from February’s staggering $1.5 billion. This sharp drop suggests that security measures may be improving or that attackers are finding fewer vulnerabilities to exploit. The figures for February were primarily driven by the Bybit hack. According to data presented by blockchain security firm CertiK, code vulnerabilities accounted for the most losses, at over $14 million.

Bybit Closes NFT Marketplace as Interest Drops

Crypto exchange Bybit has announced the closure of its NFT marketplace, Inscription Marketplace, and IDO product pages, effective April 8, 2025. The decision aims to simplify and enhance its service range. Recently, X2Y2 also announced plans to cease operations, assuring users that its smart contracts would remain functional.