Bybit News: $1.67 Billion in Crypto Stolen in Q1 2025, Majority From Bybit Hack

Crypto Investors Lost $1.67B to Hacks in Q1 2025: CertiK

Blockchain security firm CertiK revealed that $1.67 billion worth of crypto was stolen by hackers in Q1 2025, marking a 303% increase from the previous quarter. This figure represents two-thirds of the total amount stolen in 2024, with the majority of Q1’s losses attributed to the $1.45 billion Bybit hack. CertiK analyzed 197 hacking incidents, 98 of which occurred on Ethereum. The two largest hacks after Bybit were the $71 million Phemex heist and the $49.5 million exploit on crypto neobank Infini. Phishing attacks accounted for 81 incidents, while there were 15 incidents of private key compromise.

ByBit Halts Operations of its NFT Platform, Inscription Marketplace, Amid Market Downturn

Bybit, a leading cryptocurrency exchange, has announced the shutdown of its NFT marketplace, Inscription Marketplace, and IDO product pages. This move is part of a wider trend where companies in the crypto world are increasingly exiting the NFT space due to dramatic value declines in leading NFT collections such as CryptoPunks and Bored APE Yacht Club. Bybit’s decision comes at a time when other companies, including X2Y2, Kraken, Nike’s (RTFKT), and LG, have also closed their respective NFT platforms. Additionally, Bybit is still trying to overcome the consequences of a serious hack that occurred about five weeks ago.