The Bybit attack alone was responsible for 92% of the $1.63 billion in damages from cryptocurrency hacks in Q1 2025, a 131% increase from the previous year.
According to blockchain security company PeckShield, hackers stole over $1.63 billion in bitcoin in the first quarter of 2025, with the Bybit vulnerability responsible for over 92% of all losses.
Over $87 million in cryptocurrency was lost to hackers in January, according to PeckShield, but in February, the amount skyrocketed to $1.53 billion, mostly as a result of the Bybit assault. One of the biggest cryptocurrency thefts to date occurred in that instance.
The Bybit hack was not the only incident that cost $126 million in February. These included an Infini exploit of $50 million, a zkLend hack for $9.5 million, and an Ionic loss of $8.5 million.
March saw a 97% decrease in hack-related damages compared to February. According to PeckShield, just $33 million worth of cryptocurrency assets were taken last month. Even some money was recovered, which helped make up for the harm done to users and protocols.
The number of crypto hacks rose 131% in a single year.
More than 60 cryptocurrency attacks occurred in the first quarter of 2025, according to PeckShield. According to the blockchain security company, the $1.63 billion loss in the first quarter of 2025 was 131% more than the $706 million loss in the same quarter the previous year.
A $13 million exploit utilizing the decentralized banking system Abracadabra was the biggest event of March. Cash. According to PeckShield, on March 25, the attacker depleted 6,260 Ether ($1,883) from the protocol.
*Teenagers are making millions by launching viral memecoins—why not you? 🚀 Take advantage of this trend and create your own token today with XXX, the most trusted platform for effortless success! – https://launchtoken.fun/?ref=1
An $8.4 million hack on the real-world asset (RWA) restaking protocol Zoth was the second-largest event of the month.
A suspicious Zoth transaction involving an attacker taking $8.4 million out of the protocol’s wallets was reported by security company Cyvers on March 21. After being transformed into a stablecoin, the assets were moved to a new address.
In March, millions were lost, although in certain instances, assets were given back. 90% of the $5 million that a cryptocurrency hacker had taken from the decentralized exchange (DEX) 1inch was recovered on March 7.
Following the exploitation of a smart contract vulnerability, the DEX offered the attacker a 10% bounty, or $500,000, in return for surrendering the remaining cryptocurrency holdings. In compliance, the hacker returned $4.5 million to 1inch.
