The first quarter of 2025 saw significant losses in the crypto industry due to over 60 breaches resulting in $1.63 billion in losses, marking a record for the industry.
Record Losses in Q1 2025
According to the latest data from Immunefi and PeckShield, crypto hack losses in the first quarter of 2025 topped $1.63 billion, more than doubling from $706 million in the same period of the previous year.
Major Hacks and Their Impact
The main losses came from two significant incidents: a $1.46 billion exploit at Bybit and a $69.1 million attack on Phemex, accounting for 94% of the total losses for the quarter.
Targeted Blockchains and Platforms
Centralized exchanges like BNB Chain and Ethereum faced the majority of attacks, with BNB Chain being attacked 19 times and Ethereum 15 times.
The sharp increase in hack losses underscores the need for enhanced security measures in the crypto sector to prevent such significant losses in the future.
