Hackers took more than $1.63 billion in cryptocurrency throughout the very first quarter of 2025, with the Bybit make use of accounting for more than 92% of overall losses, according to blockchain security company PeckShield.
PeckShield reported that over $87 million in crypto was lost to hacks in January, while February saw a significant spike to $1.53 billion, mostly due to the Bybit attack. That occurrence was among the biggest crypto thefts to date.
In addition to the Bybit hack, other attacks in February triggered $126 million in losses. This consisted of a $50-million make use of targeting Infini, a $9.5-million hack on zkLend and an $8.5-million loss from Ionic.
Hack-related losses dropped substantially in March, reducing by 97% from February. PeckShield reported just $33 million in crypto possessions were taken last month. Some funds were even recuperated, assisting balance out damage to users and procedures.
Crypto hacks saw a 131% year-over-year boost
According to PeckShield, the very first quarter of 2025 saw more than 60 crypto hacks. The blockchain security company stated the $1.63 billion loss in Q1 2025 represented a 131% year-over-year boost from the very first quarter of 2024, when losses reached $706 million.
The biggest occurrence in March was a $13 million make use of including decentralized financing procedure Abracadabra.Money. PeckShield stated the enemy drained pipes 6,260 Ether (ETH) from the procedure on March 25.
Crypto hack losses in March. Source: PeckShield
Related: North Korean crypto attacks increasing in elegance, stars– Paradigm
The second-biggest occurrence throughout the month was an $8.4-million hack on the real-world property (RWA) restaking procedure Zoth.
On March 21, security company Cyvers flagged a suspicious Zoth deal, an enemy withdrawing $8.4 million from the procedure’s wallets. The possessions were transformed into a stablecoin and moved to another address.
While millions were lost in March, some cases saw possessions being returned. On March 7, a crypto hacker who took $5 million from decentralized exchange (DEX) 1inch returned 90% of the funds.
After a clever agreement vulnerability was made use of, the DEX provided a 10% bounty to the enemy, worth $500,000, in exchange for returning the remainder of the crypto possessions. The hacker required and returned $4.5 million to 1inch.
Publication: Secret superstar memecoin rip-off factory, HK company disposes Bitcoin: Asia Express