Crypto hacks in Q1 soar 131% YoY as losses hit $1.63b, data shows

The cryptography market witnessed more than 60 crypto hacks in the first quarter resulted in $ 1.63 billion in losses, more than dollars double a year earlier.

Cryptography hacks In the first quarter of 2025, resulted in more than $ 1.6 billion in losses, making it the worst quarter for crypto security violations to date, according to data from the last research report.

Peckshield data shows These hack crypto losses in the first quarter were more than doubled, compared to $ 706 million in the first quarter of 2024.

Most losses in the first quarter come from two major incidents: a feat of $ 1.46 billion in Go through and an attack of $ 69.1 million on Phemex. As Immunofi Note analysts, the two main exploits of the quarter “totaled $ 1.52 billion alone, representing 94% of all losses in the first quarter”.

“The extent of the bybit and Phemex attacks, totaling $ 1.5 billion, shows how the actors supported by the state are undoubtedly the most urgent threat to our industry. Their success in the violation of deemed platforms and tested in combat is a recall of the need for security measures that protect the pile and help projects to prevent catastrophic attacks before they occur. “

Immunfi

Centralized exchanges suffered the most because they represented 94% of total losses, while attacks against decentralized finances represented only 6%. Binance BNB chain (formerly Binance Smart Chain) was the most exploited blockchain, suffering from 19 distinct incidents, followed by Ethereum With 15, the data shows.

Mars alone saw 20 hacks, which resulted in $ 33.46 million in losses, the largest incidents included a feat of $ 13 million in Abracadabra.Money and an attack of $ 8.32 million against Zoth.