Which exchanges have cryptocurrency scams and loopholes as of 2025?

In 2025, several cryptocurrency exchanges experienced security problems, including: 1. Bybit was attacked by Lazarus Group on February 21, stealing about $1.4 billion in ETH and related tokens; 2. Phemex was stolen in January, related to Lazarus Group; 3. Babit Exchange was attacked on March 7, using a smart contract vulnerability to steal $1.5 billion in assets.

In 2025, several cryptocurrency exchanges experienced security issues. The following are related events:

• Bybit : On February 21, 2025, the Bybit exchange's ETH cold storage package was attacked by the North Korean hacker group Lazarus Group, and about US$1.4 billion worth of Ethereum (ETH) and other Ethereum-related tokens were stolen. By forging the Safe.global signature interface and combining social engineering, the hackers tricked signers into signing malicious smart contract upgrade instructions, tampered with the logic of multi-signed storage package contracts, controlled the transfer permissions of funds, and stolen funds were diverted and laundered. After the incident, Ethereum price plummeted and Bitcoin price was also affected. Bybit users concentrated withdrawals. Although Bybit took a series of measures, such as issuing statements, raising funds to make up for losses, launching bounty plans, and cooperating with law enforcement, it still hit its reputation.
• Phemex : In January 2025, the Phemex exchange was stolen $69 million, which is associated with the Lazarus Group, a hacker group that attacked Bybit.
• Babitt Exchange : On March 7, 2025, Babitt Exchange was hacked. The attacker used a smart contract vulnerability to forge withdrawal vouchers to transfer assets, resulting in the stolen $1.5 billion in assets.

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