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$ 1.5b crypto hack losses expose bug flaws



While cryptocurrency losses from security violations have seized the past $ 1.5 billion, cybersecurity experts are urging exchanges to improve bug programs to attract leading ethical hackers and strengthen platform security.

On March 3, blockchain security firm Certik said Crypto from the Hack in February had reached $ 1.53 billionIncludes Bybit Hack Accounting for most losses at more than $ 1.4 billion. Excluding the incident, Certik reported that other exploitation resulted in $ 126 million in losses, including a $ 49 million infini hack.

Ethical hacker Marwan Hachem told Cointelegraph that climbing crypto hack losses has highlights a growing need for better bug programs.

Hachem said to avoid exploitation, exchanges must offer higher and more appealing bug bounty rewards to white hat hackers.