Crypto Hacks in May 2025 Result in $244.1 million Losses
In May 2025, the crypto world faced a loss of about $244.1 million due too hacks. This is a 39.29% drop from April’s numbers, as reported by PeckShield, a blockchain security firm.Around 20 major incidents occurred, but some stolen assets were frozen thanks to coordinated recovery efforts.
The biggest event was the Cetus Protocol exploit, which saw hackers steal $220 million. However, Sui (SUI) validators and Cetus Protocol worked together to freeze $157 million of the stolen funds, achieving a 71% recovery rate.
Dedaub, another blockchain security firm, explained that the attackers exploited a vulnerability in the most meaningful bits check mechanism. This allowed them to manipulate liquidity parameters and create large positions with little effort.
Other notable incidents included Cork Protocol losing $12 million, a North Korean-affiliated attack causing $5.2 million in losses, and the MBU token suffering a $2.2 million exploit. MapleStory Universe also experienced a $1.2 million breach.
While may’s losses were significant, thay represent an improvement over previous months. In the first quarter of 2025, over $1.63 billion worth of cryptocurrencies were stolen. The Bybit vulnerability was responsible for almost 92% of these losses. January saw $87 million in stolen crypto,while February experienced a surge to $1.53 billion,largely due to the massive Bybit attack.
