The first quarter of 2025 was quite fruitful for the bad actors in the industry. Hackers ran amok, swiping $1.63 billion in cryptocurrencies.
Over a billion and a half dollars gone, poof! PeckShield revealed that this is a 131% increase from the same period last year, when losses were a mere $706 million.
It’s like the crypto world was hit by a digital tsunami.
The big league
Now, let’s talk about the biggest raid, the Bybit breach. This single hack accounted for 92% of all losses, making it one of the largest crypto thefts in history.
was the month of doom, with hackers making off with $1.53 billion, mostly thanks to Bybit.
But that wasn’t all, other attacks in February added another $126 million to the tally, including a $50 million hit on Infini and smaller hacks on zkLend and Ionic.
#PeckShieldAlert Q1 2025 witnessed 60+ crypto hacks, resulting in total losses of $1.63B, a YoY increase of 131% compared to $706M in Q1 2024.
March 2025 recorded 20 crypto hacks, resulting in $33.46M in losses, including a $5M hack affecting #1inch, which was 90% recovered.… pic.twitter.com/Pg3fHpUvUp
— PeckShieldAlert (@PeckShieldAlert) April 1, 2025
Spring wind
March was a bit of a breather, with losses plummeting by 97% from February. Only $33 million was stolen, and some of that was even recovered.
But don’t get too comfortable, the largest incident in March still saw $13 million vanish from Abracadabra.Money.
And let’s not forget the $8.4 million hack on Zoth. It’s like hackers are playing a game of digital cat and mouse.
White hat
On the other hand, it looks like some hackers are starting to develop a conscience. A thief who stole $5 million from 1inch returned 90% of the loot after being offered a $500,000 bounty.
It’s a small victory, but it shows that even in the dark alleys of crypto, there’s a glimmer of hope.
What does this mean for you? Well, if you’re in crypto, it’s time to buckle up. The security situation is getting more treacherous by the day.
But hey, at least some hackers are starting to see the light. Maybe we’ll see more returned funds in the future. Until then, keep your crypto close and your security closer.
Have you read it yet? Tether and the $735 million power play
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
