In January 2025, cryptocurrency hacks showed a significant decrease, dropping 44% year-over-year to over $73 million stolen across 19 incidents, compared to $133 million in January 2024. This decline is viewed positively for the industry. However, centralized finance (CeFi) platforms remain the main targets for hackers, accounting for 93% of the losses with $69 million taken from Singapore-based crypto exchange Phemex. The attacks on CeFi, while not the highest in number, result in catastrophic losses due to private key compromises. In contrast, decentralized finance (DeFi) exploits, though more frequent, resulted in smaller losses totaling $4.8 million in January. CeFi's vulnerabilities include human error and phishing threats, emphasizing the need for enhanced security measures. Immunefi, which oversees and protects significant amounts of user crypto funds, also offers bounties for ethical hackers to bolster security against such incidents.

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