The value of cryptocurrency hacking operations increased to $1.6 billion in Q1 2025
Losses from cryptocurrency hacks rose to $1.63 billion in the first quarter of 2025, according to the 'Peak Shield' report, with the 'Bybit' breach accounting for 92% of the total stolen.
The amount stolen was $87 million in January, and surged to $1.53 billion in February due to this attack, which is considered one of the largest recorded incidents.
In February, other attacks caused losses of $126 million, including $50 million stolen from 'Infini', $9.5 million from 'zkLend', and $8.5 million from 'Ionic'.
The thefts sharply declined in March to $33 million, which is 97% lower than February, with some funds being recovered.
The first quarter of 2025 saw a 131% increase in thefts compared to the same period in 2024, which recorded $706 million.
Among the notable incidents in March was the hacking of the 'Abracadabra.Money' platform and the theft of 6,260 Ethereum ($13 million), in addition to an attack on 'Zoth' worth $8.4 million.
Despite these thefts, some assets were recovered.
On March 7, a hacker who seized $5 million from the '1inch' platform returned 90% of the funds and accepted a reward of $500,000.
