{"id":10688,"date":"2025-01-31T12:32:46","date_gmt":"2025-01-31T12:32:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10688"},"modified":"2025-01-31T12:32:46","modified_gmt":"2025-01-31T12:32:46","slug":"crypto-hacks-drop-44-in-january-as-hackers-steal-73m","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10688","title":{"rendered":"Crypto Hacks Drop 44% In January As Hackers Steal $73M"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Cryptocurrency-related cybercrime <\/span><span data-preserver-spaces=\"true\">saw a significant decline<\/span><span data-preserver-spaces=\"true\"> in January 2025, with hackers stealing $73 million across 19 separate incidents \u2014 a 44% drop from the $133 million stolen in January 2024. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While the decrease is a positive sign for industry security, the figure still represents a sharp ninefold increase from December 2024, when crypto hackers stole just $3.8 million, according to a 30 <a href=\"https:\/\/x.com\/immunefi\/status\/1884966693325221953\" target=\"_blank\" rel=\"nofollow\">January 2025 report from Immunefi<\/a>.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The <\/span><span data-preserver-spaces=\"true\">largest<\/span><span data-preserver-spaces=\"true\"> single attack of the month targeted Singapore-based crypto exchange Phemex, which lost $69 million, making up the vast majority of the <\/span><span data-preserver-spaces=\"true\">month\u2019s<\/span><span data-preserver-spaces=\"true\"> total stolen funds. <\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Second-Largest Hack Involved Moby Trade<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The second-largest hack involved Moby Trade, a crypto options platform, which suffered a $2.5 million breach. Despite the overall decline in theft compared to last year, the data underscores the ongoing vulnerability of cryptocurrency platforms to cyber threats.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to Immunefi, centralized finance (CeFi) platforms accounted for 93% of all crypto theft in January, with losses totaling $69 million across a few major incidents. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In contrast, decentralized finance (DeFi) protocols recorded 18 attacks, but total losses amounted to just $4.8 million, accounting for 6.5% of stolen funds. The data reinforces the perception that while DeFi platforms face more frequent attacks, CeFi breaches tend to result in far <\/span><span data-preserver-spaces=\"true\">greater<\/span><span data-preserver-spaces=\"true\"> financial losses.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">2\/ <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f3af.png\" alt=\"\ud83c\udfaf\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">Major attack: The biggest losses came from two incidents\u2014Phemex ($69.1M) and Moby Trade ($2.5M). North Korean hackers at it again? <\/p>\n<p>There are suspicions they\u2019re behind the Phemex breach, a classic target and attack vector for their expertise\u2014infrastructure compromise.<\/p>\n<p>\u2014 Immunefi (@immunefi) <a href=\"https:\/\/twitter.com\/immunefi\/status\/1884966694998696215?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">January 30, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Mitchell Amador, founder and CEO of Immunefi, believes that CeFi platforms will remain the primary target for hackers throughout 2025 due to <\/span><span data-preserver-spaces=\"true\">vulnerabilities in<\/span><span data-preserver-spaces=\"true\"> key management and infrastructure security.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He warned that the <\/span><span data-preserver-spaces=\"true\">biggest<\/span><span data-preserver-spaces=\"true\"> risks stem from private key compromises, allowing bad actors to drain massive <\/span><span data-preserver-spaces=\"true\">amounts of<\/span><span data-preserver-spaces=\"true\"> funds in a single attack. Unlike DeFi exploits, which often involve partial fund losses due to smart contract vulnerabilities, CeFi breaches can result in catastrophic, system-wide failures.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Amador emphasized that CeFi platforms must adopt a multi-layered security approach, <\/span><span data-preserver-spaces=\"true\">including<\/span><span data-preserver-spaces=\"true\"> improving key management systems, reducing reliance on single private keys, and strengthening operational security (OpSec) best practices. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He also highlighted the importance of regular security training for employees and suggested that platforms <\/span><span data-preserver-spaces=\"true\">should<\/span><span data-preserver-spaces=\"true\"> implement bug bounty programs and real-time threat detection tools to enhance security.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Bug Bounty Programs Strengthen Crypto Security<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bug bounty programs remain an essential defense mechanism in crypto security, incentivizing ethical hackers to find and report vulnerabilities before bad actors exploit them. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Immunefi <\/span><span data-preserver-spaces=\"true\">currently<\/span><span data-preserver-spaces=\"true\"> offers over $181 million in bounties for white hat hackers, helping protect <\/span><span data-preserver-spaces=\"true\">more than<\/span><span data-preserver-spaces=\"true\"> $190 billion in crypto assets.<\/span> <span data-preserver-spaces=\"true\">While <\/span><span data-preserver-spaces=\"true\">January\u2019s<\/span><span data-preserver-spaces=\"true\"> decline in total stolen funds is<\/span><span data-preserver-spaces=\"true\"> a <\/span><span data-preserver-spaces=\"true\">promising <\/span><span data-preserver-spaces=\"true\">development<\/span><span data-preserver-spaces=\"true\">, ongoing security advancements will be crucial in reducing future cyber threats.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-coinbase-listings\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">15 New &amp; Upcoming Coinbase Listings to Watch in 2025<\/span><\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/crypto-hacks-drop-44-in-january-as-hackers-steal-73m\/\">Crypto Hacks Drop 44% In January As Hackers Steal $73M<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency-related cybercrime saw a significant decline in January 2025, with hackers stealing $73 million across 19 separate incidents \u2014 a 44% drop from the $133 million stolen in January 2024. While the decrease is a positive sign for industry security, the figure still represents a sharp ninefold increase from December 2024, when crypto hackers stole [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10688","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10688"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10688\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}