Crypto Chaos: Q1 2025 Sees Over 60 Hacks, $1.63 Billion Vanishes!

First Quarter Nightmare: Crypto Losses Skyrocket

Hang onto your hats, folks! The crypto world just got rocked by over 60 hacks in the first three months of 2025, draining a jaw-dropping $1.63 billion. That's more than double the $706 million we saw vanish this time last year. It's like the Wild West out there!

Security Breaches Hit Record Highs

Get this: the first quarter of 2025 was the worst ever for crypto security breaches, with losses soaring past $1.6 billion. That's right, the bad guys are getting bolder and smarter, and it's costing us big time.

From Bad to Worse: Hacks More Than Double

Just when you thought it couldn't get any worse, the numbers show that crypto losses from hacks in Q1 more than doubled from last year's $706 million. It's like a horror movie that just keeps getting scarier!

Twitter Alert: Q1 2025 Hack Stats

#PeckShieldAlert Q1 2025 was a nightmare with over 60 crypto hacks, wiping out a staggering $1.63 billion. That's a 131% jump from last year's $706 million in Q1 2024. And March? It was a bloodbath with 20 hacks, costing $33.46 million, including a $5 million hit on #1inch, though they managed to claw back 90% of it.

Two Mega-Hacks Dominate the Quarter

Hold onto your wallets, because most of the damage came from just two monster hacks: a mind-blowing $1.46 billion exploit at Bybit and a $69.1 million attack on Phemex. Immunefi's analysts are sounding the alarm, saying these two alone made up a whopping 94% of all losses in Q1. It's like David and Goliath, but Goliath's winning!

State-Backed Actors: The Real Threat

Immunefi's putting it bluntly: "The sheer scale of the Bybit and Phemex attacks, totaling $1.5 billion, shows how state-backed actors are the biggest threat we're facing. They're breaching even the toughest platforms, and it's a wake-up call for better security across the board."

Centralized Exchanges Bear the Brunt

Centralized exchanges are feeling the heat, accounting for 94% of the total losses, while DeFi attacks made up just 6%. Binance's BNB Chain took the hardest hit with 19 separate incidents, followed by Ethereum with 15. It's like a battlefield out there!

March Madness: 20 Hacks in One Month

And March? It was a month of madness with 20 hacks, draining $33.46 million. The biggest hits were a $13 million exploit at Abracadabra.money and an $8.32 million attack on Zoth. It's like the hackers are on a rampage, and we're all just trying to survive!