In the first quarter of 2025, hackers stole over $1.63 billion in cryptocurrency, marking a 131% increase compared to the previous year. The Bybit breach was particularly devastating, responsible for over 92% of total losses, which amounted to approximately $1.53 billion in February. In January, losses were relatively minor at $87 million, but February saw significant losses primarily due to the Bybit exploit and other attacks, including breaches at Infini and zkLend. March, however, showed a stark decline in thefts, with only $33 million stolen, representing a 97% drop from February. Some funds were returned by hackers, including a $5 million theft from the decentralized exchange 1inch, from which $4.5 million was returned after a bounty offer. Throughout Q1 2025, PeckShield noted over 60 hacks, illustrating a troubling trend in decentralized finance (DeFi) protocols.

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