Here’s what happened in crypto today

Today in crypto, the Bitcoin network’s hashrate hit a new all-time high above 1,000 exahashes per second, phishing attacks were the most costly attack vector for the crypto industry in 2024, according to a new report from CertiK, and BlackRock’s iShares Bitcoin Trust (IBIT) clocked its largest one-day outflow since its launch in 2024.Bitcoin hashrate briefly hits all-time highOn Jan. 3, the Bitcoin network’s hashrate briefly reached a new all-time high as miners continued to add capacity. According to data from CoinWarz, Bitcoin’s hashrate peaked at over 1,000 exahashes per second (EH/s). It was more than double the 510 EH/s in January 2024. Following the intraday peak, the hashrate dipped back below 780 EH/s. Bitcoin’s hashrate rises as miners increase the amount of computational resources devoted to the blockchain. Miners are adding capacity despite Bitcoin’s April 2024 halving event, which reduced mining rewards to 3.125 BTC from 6.25 BTC.In 2024, mining companies “acquired other miners with turn-key facilities to increase near-term hashrate and increase their power pipeline,” according to a December report by JPMorgan.JPMorgan also raised the price target of four Bitcoin mining stocks to reflect the growing value of their BTC holdings.Phishing scams top crypto security threat of 2024 — CertiKBlockchain security firm CertiK has issued a warning to crypto investors about the rising threat of phishing scams, which emerged as the most significant security threat of 2024.Crypto phishing attacks involve hackers sharing fraudulent links with victims to steal sensitive information, such as crypto wallet private keys.Phishing attacks were the most costly attack vector for the crypto industry in 2024, netting attackers over $1 billion worth of stolen digital assets across 296 incidents, according to CertiK’s annual Web3 security report published on Jan. 2.“Phishing was the most costly attack vector last year,” a CertiK spokesperson told Cointelegraph. “Our figures are conservative, the actual figure is higher when you consider unreported incidents and other types of phishing scams like pig butchering.”Out of the 296 phishing incidents in 2024, at least three resulted in losses exceeding $100 million, highlighting the scale of damage possible.Private key compromises were the second-largest threat after phishing scams, resulting in over $855 million worth of stolen crypto across 65 incidents in 2024.Bitcoin investors pull $333 million from BlackRock IBIT ETF in record outflowBlackRock’s iShares Bitcoin Trust (IBIT) has just recorded its largest outflow since it launched a year ago — as United States trading resumed on Jan. 2.BlackRock’s spot Bitcoin (BTC) exchange-traded fund saw a record outflow of $332.6 million on Jan. 2, according to data from Farside Investors. It is the largest ever outflow since the product launched in January 2024, eclipsing the previous record of $188.7 million on Dec. 24, according to Farside Investors.The move follows a market closure on New Year’s Day but marks the third consecutive trading day of outflows for the BTC investment product, which is another record. Over the past week, BlackRock’s iShares Bitcoin Trust has seen $392.6 million in outflows. Do Kwon pleads not guilty in US courtTerraform Labs co-founder Do Kwon appeared before a New York magistrate on Jan. 2, less than a week after being extradited to the United States to face criminal charges for his role in the Terra ecosystem collapse. Appearing before US Magistrate Judge Robert Lehrburger, Kwon pleaded not guilty to nine charges, including securities fraud, wire fraud, money laundering and commodities fraud. A status conference is scheduled for Jan. 8, allowing for the defense and prosecution to share evidence. Kwon was apprehended in Montenegro in 2023 after authorities arrested him for using falsified travel documents. He was sentenced to four months in prison but remained in custody for much longer as courts tussled over his extradition destination.On Dec. 27, Montenegrin Justice Minister Bojan Bozovic finally approved Kwon’s extradition to the United States.“The gravity of the criminal acts, the place of execution, the order of submission of the request, the citizenship of the requested person, the possibility of further extradition to another country, as well as other circumstances,” the Ministry of Justice said.