Crypto Hacks Surge to $1.6 Billion in Q1 2025, Pushed by Bybit Exploit

[ad_1] Hackers stole greater than $1.63 billion in cryptocurrency in the primary quarter of 2025, in line with blockchain safety agency PeckShield. The Bybit exploit accounted for over 92% of whole losses.

PeckShield reported that hackers stole $87 million in January. Losses surged to $1.53 billion in February, primarily as a result of Bybit assault. The incident was one of many largest crypto thefts recorded.

Crypto Hacks Soar 131% Yr Over Yr

Different February hacks resulted in $126 million in losses. These included a $50 million exploit focusing on Infini, a $9.5 million hack on zkLend, and an $8.5 million loss from Ionic.

March noticed a pointy decline in crypto-related hacks. PeckShield reported $33 million in stolen belongings, a 97% drop from February. Some funds had been recovered, partially offsetting losses.

The report highlighted a 131% year-over-year rise in crypto hacks. Losses in Q1 2024 totaled $706 million. The primary quarter of 2025 noticed greater than 60 incidents.

The biggest hack in March concerned decentralized finance protocol Abracadabra.Cash. On March 25, an attacker drained 6,260 Ether, value $13 million, from the protocol.

🚨ALERT🚨Our system has detected irregular exercise, together with suspicious habits involving the @Bybit_Official pockets!A number of wallets are exhibiting extremely suspicious patterns, and we're actively reaching out to the trade to warn them. The entire affected belongings are… pic.twitter.com/iAQqlgU4Rf

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) February 21, 2025 March Hacks See Partial Fund Restoration

One other important hack focused real-world asset (RWA) restaking protocol Zoth. On March 21, safety agency Cyvers flagged a suspicious transaction by which an attacker withdrew $8.4 million. The funds had been transformed into stablecoins and moved to a different pockets.

Regardless of the losses, some stolen funds had been returned. On March 7, a hacker who stole $5 million from decentralized trade 1inch returned 90% of the belongings. The DEX provided a ten% bounty of $500,000 in trade for the remaining funds. The attacker accepted and returned $4.5 million.