The first quarter of 2025 was marked by a significant increase in cryptocurrency attacks, resulting in losses exceeding $1.63 billion, indicating a rise in hacker activity.
March 2025 Attacks
March 2025 recorded 20 cryptocurrency attacks resulting in $33.46 million in losses. The most significant event was the attack on Abracadabra.money, which incurred the largest loss of $13 million. The second largest attack targeted the Zoth protocol with $8.32 million stolen.
Q1 Losses
Total losses for the first quarter of 2025 amounted to $1.63 billion, a 131% increase compared to Q1 2024, when losses were $706 million. January started the quarter with $87.93 million in losses, February experienced a substantial increase to $1.51 billion, and March saw losses of $33.46 million.
Recovery Efforts
Efforts to recover stolen funds have shown mixed results. It is noted that 90% of the funds stolen in the 1inch protocol attack were recovered due to the efforts of security teams. Despite this, the total recovered amount for March represented only about 14% of the approximately $33.7 million stolen.
The first quarter of 2025 was a significant period for cryptocurrency attacks, highlighting the need for heightened security measures and awareness of threats in this sector.
