What’s New in Crypto Today: Bitcoin High, Scams Rise, ETF Outflows Surge
Discover the latest in crypto: Bitcoin hits a record, scams dominate, and ETFs see outflows.
By Tylt Editorial Team
Bitcoin’s network hashrate hit a historic high above 1,000 EH/s.
Phishing scams cost the crypto industry over $1 billion in 2024.
BlackRock’s Bitcoin ETF saw record one-day outflows of $333 million.
Bitcoin started 2025 with remarkable activity, as its network hashrate soared to a new all-time high on January 3. According to data from CoinWarz, the hashrate momentarily breached 1,000 exahashes per second (EH/s), more than doubling its level from the same time last year. The surge reflects miners’ growing commitment to adding computational capacity, even as April 2024’s halving event reduced block rewards. While the hashrate dipped back to 780 EH/s later in the day, analysts suggest this upward trend will persist as mining companies expand their operations through acquisitions and power pipeline investments.
In parallel, cybersecurity challenges took center stage in 2024. A report from blockchain security firm CertiK revealed that phishing attacks were the crypto industry's most significant threat last year, accounting for over $1 billion in losses across 296 incidents. These attacks typically exploit fraudulent links to steal sensitive user data, such as private keys. Notably, three phishing cases each resulted in losses exceeding $100 million, underscoring the growing sophistication of such schemes. Private key compromises followed as the second-largest security concern, costing the industry $855 million.
Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) faced turbulence as investors pulled a record $333 million on January 2. This marked the largest single-day outflow since the fund’s launch in January 2024, surpassing the previous high of $188.7 million recorded in late December. With $392.6 million withdrawn over the past week, the trend indicates potential uncertainty in institutional Bitcoin investments.
In legal news, Terraform Labs co-founder Do Kwon made his first appearance in a US court on January 2 after being extradited from Montenegro. Pleading not guilty to charges including securities fraud and money laundering, Kwon faces scrutiny for his role in the collapse of the Terra ecosystem. With a status conference scheduled for January 8, the proceedings could shed light on one of the crypto industry’s most high-profile collapses.
As these developments unfold, they underscore the dynamic and multifaceted nature of the crypto world, from record-breaking technological achievements to challenges in security and regulation.
