$1.45B drained from decentralized finance platforms in 2025 due to vulnerabilities

Q1 2025 Sees Crypto Hacks Result in $2 Billion Lost

A spate of high-profile crypto hacks in the first quarter of 2025 has left the industry reeling, with a staggering $2 billion in digital assets lost or stolen.

According to a report released by blockchain analytics firm Chainalysis, the first quarter of the year has seen a significant increase in crypto-related cybercrime, with hackers targeting exchanges, wallets and other cryptocurrency infrastructure.

The report highlights a total of 12 major hacks that took place between January and March, resulting in the loss or theft of over 2 million cryptocurrency units. The total value of the stolen assets is estimated to be around $2 billion, with the majority of the losses attributed to Ethereum-based tokens.

The most notable hack of the quarter was a heist on the popular cryptocurrency exchange, KuCoin, which resulted in the theft of over 150 different cryptocurrencies, including Bitcoin, Ethereum and Litecoin. The incident is believed to have been carried out by a group of sophisticated hackers who exploited a vulnerability in the exchange's smart contract system.

Other notable hacks included an attack on the decentralized finance (DeFi) platform, Aave, which resulted in the theft of over $3 million in cryptocurrency, and a hack on the cryptocurrency wallet service, MetaMask, which saw over $1 million in assets stolen.

The report also highlights a trend of increasing sophistication among hackers, with many of the attacks being carried out using highly advanced techniques, such as social engineering and phishing attacks.

The news has sent shockwaves through the cryptocurrency community, with many calling for greater security measures to be implemented to prevent such incidents in the future. In response, many exchanges and cryptocurrency infrastructure providers have announced plans to increase their security measures, including the implementation of new technologies and protocols.

The report's findings have also sparked renewed calls for greater regulation of the cryptocurrency industry, with many arguing that greater oversight is needed to prevent such incidents from occurring in the future.