<ul><li>In February 2025, cryptocurrency losses surged to over $1.5 billion, an 18-fold increase from the previous year.</li><li>The majority of losses were driven by a $1.46 billion hack at the Bybit exchange, with other smaller attacks also contributing.</li><li>Centralized finance (CeFi) platforms accounted for 95.5% of the losses, while decentralized finance (DeFi) protocols made up 4.5%.</li><li>Hacks were the primary cause of losses, with no significant contribution from fraud, highlighting the growing sophistication of cybercriminals.</li></ul>

Crypto Losses Surge 20x in February to Over $1.5b, Data Shows

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