Crypto Hacks on the Rise: $360.83 Million Stolen in February Alone

The crypto community has been hit hard by a surge in hacks, with February seeing a staggering 97.6% Month-on-Month (MoM) increase in the total value of cryptocurrencies stolen. Over 21 attacks occurred, resulting in the theft of around $360.83 million. This marks a significant increase from January, where $182.54 million was stolen. The rise in hacks has been widely reported by Bitcoinist, with PeckShield, a crypto investigator, revealing the massive MoM increase in stolen funds.

Key Highlights:

(1) Over 21 Crypto Attacks in February: The crypto community has seen a growing number of hacks in the first two months of 2024.

(2) $360.83 Million Stolen: Hackers stole around $360.83 million during the crypto heists in February.

(3) 97.6% Increase in Total Value Stolen: February saw a 97.6% increase in the total value stolen compared to January.

(4) 1.8% of Stolen Funds Returned: Approximately $6.7 million worth of stolen funds have been returned.

(5) Axie Infinity Co-Founder Suffers Third-Largest Loss: Jeff 'Jihoz' Zirlin, co-founder of Axie Infinity, lost over $9.7 million worth of Ether due to a hack of two of his addresses.

Recent Hacks:

(1) FixedFloat Exchange Hacked: A decentralized finance (DeFi) crypto exchange, FixedFloat, was targeted by hackers, resulting in the theft of over $26 million worth of Bitcoin (BTC) and Ethereum (ETH).

(2) 1700 ETH and $21 Million in BTC Stolen: The hacker drained 1700 ETH from FixedFloat and siphoned off approximately $21 million worth of BTC.

(3) Funds Transferred to Online Exchange: The stolen ETH was primarily sent to an online exchange called eXchdotch, which employs Thorchain and centralized mixing techniques to obfuscate the origin of the funds.

(4) Hacker's Attempt to Create False Trail: The hacker allegedly attempted to create a false trail by depositing funds into two HitBTC addresses, but no concrete link has been established between these addresses and the hacker's activities.