The cryptomarkt witnessed more than 60 crypto -hacks in Q1, resulted in $ 1.63 billion in losses, more than doubled from $ 706 million a year earlier.
Crypto -Hacks in the first quarter of 2025 resulted in more than $ 1.6 billion in losses, making it the worst quarter for crypto security infringements to date, per data from Immunefi’s newest research report.
Data from Peckshield also to show That crypto losses of hacks in Q1 more than doubled from $ 706 million in Q1 2024.
Most losses in the first quarter came from two major incidents: an exploit of $ 1.46 billion at Bybit and an attack of $ 69.1 million on Phemex. As analysts at Immunefi Note, the two major exploits of the quarter were “only $ 1.52 billion, accounting for 94% of all losses in Q1.”
“The enormous scale of the Bybit and Phemex attacks, a total of $ 1.5 billion, shows how the state-supported actors demonstrably pose the most urgent threat to our industry. Their success in violating renowned, combat tested platforms is a memory of the necessity of protecting and projects to prevent the entire stack”
Immunefi
Centralized exchanges suffered the most because they were good for 94% of the total losses, while attacks on decentralized financing were only 6%. Binance’s BNB chain (formerly Binance Smart Chain) was the most exploited blockchain, which suffered 19 separate incidents, followed by Ethereum with 15, the data shows.
In March alone, 20 hacks saw $ 33.46 million in losses, with the biggest incidents an exploit of $ 13 million on Abracadabra.Money and an attack of $ 8.32 million on ZOTH.
