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$1.63 Billion Lost: Crypto Suffers Brutal Start to 2025

Tue 01 Apr 2025 ▪ 2 min read ▪ by Evans S.
Getting informed Scam

The crypto universe has undergone a financial earthquake. In the first quarter of 2025, hackers siphoned off $1.63 billion, shattering all records. A staggering figure, boosted by the titanic attack on Bybit, which alone accounts for 92% of the losses. But behind these brutal statistics lie more nuanced realities: exploited flaws, vulnerable ecosystems, and fragile resilience. A deep dive into the bowels of a crisis that shakes the foundations of decentralization.

Illustration of a trader distraught by the hack

The Sledgehammer Blow

The attack on Bybit, in February 2025, acted like a detonation. With $1.53 billion vanished, this feat remains one of the boldest in crypto history.

To understand its impact, one must return to the figures: in January, losses amounted to $87 million, an already alarming amount.

Then February came, transforming a worrying trend into a systemic catastrophe. Bybit was not just hacked; it was dismantled, exposing structural vulnerabilities that many believed unlikely.

Yet, this carnage did not eclipse other attacks. In February, Infini ($50 million), zkLend ($9.5 million), and Ionic ($8.5 million) also suffered significant losses.

These incidents, overshadowed by Bybit, reveal a resurgence of varied targets: DeFi protocols, lending platforms, trading infrastructures.

Hackers are diversifying their strategies, shifting from exploiting smart contracts to manipulating institutional wallets.

March brought a semblance of respite, with a 97% drop in thefts ($33 million). Some funds were even returned, like the $4.5 million recovered by 1inch after a tough negotiation.

But this relative calm should not deceive: it is less about security improvement than a tactical pause. Hackers digest their loot while protocols temporarily strengthen their shields.

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Evans S. avatar
Evans S.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.