Crypto thieves struck gold early this year, making off with a staggering $1.6 billion in just three months – and get this, one heist was responsible for the lion’s share.
Blockchain security firm PeckShield dropped the grim numbers: crypto hacks in the first quarter of 2025 hit $1.63 billion. That’s a 131% skyrocket from the $706 million pilfered in the same period last year. Someone forgot to lock the digital doors.
Turns out, the bulk of the loot – over 92%, or roughly $1.5 billion – comes from a massive breach at crypto exchange Bybit. Talk about a bad quarter for them.
February was peak chaos, swallowing $1.53 billion thanks to the Bybit debacle. January wasn’t exactly quiet with $87 million vanishing, but March at least offered a breather, down to $33 million – a 97% plunge from February’s mayhem.
But it wasn’t all Bybit’s fault in February; other victims included Infini ($50 million lighter), zkLend (out $9.5 million), and Ionic (down $8.5 million). Crypto’s version of a February blues festival.
March’s misery list was topped by Abracadabra.Money getting drained of $13 million (6,260 ETH on March 25), followed by Zoth, poorer by $8.4 million. PeckShield tallied over 60 separate crypto heists in Q1 2025, proving it’s not just bad luck, it’s a trend.