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According to PeckShield, 20 large crypto hacks were reported successful May, resulting successful full losses of $244.1 million.
In May, the full magnitude stolen from crypto hacks declined drastically compared to April, with the largest incidental making up astir 90% of the month’s total, according to a blockchain information firm.
The diminution comes arsenic the crypto manufacture has been stepping up its efforts to enactment up of hackers. “In May 2025, ~20 large crypto hacks were recorded, resulting successful full losses of $244.1M — a 39.29% alteration from April,” blockchain information steadfast PeckShield said successful a May 31 X post.
The bulk of funds from the month’s largest hack were frozen
The astir important hack of the period occurred connected the Cetus decentralized speech connected May 22, with $223 cardinal successful idiosyncratic losses wrong 24 hours.
According to blockchain information steadfast Dedaub, the hackers exploited a flaw successful the most important bits (MSB) check, allowing them to manipulate the values for the liquidity parameters by orders of magnitude and found comparatively ample positions with a keystroke.
February 2025 recorded the largest crypto hack losses this year, totaling $1.51 billion. Source: PeckShieldPeckShield reported that Cetus and the Sui Network had frozen $157 cardinal successful stolen funds, astir 71% of the full magnitude stolen. PeckShield identified the second-largest exploit of the period arsenic a $12 cardinal onslaught connected the DeFi level Cork Protocol.
According to the cybersecurity steadfast Cyvers, the Cork Protocol attacker utilized the exploit to bargain astir 3,761 Wrapped Staked Ether (wstETH), which was converted to Ether.
The past 3 of the 5 largest hacks for the period were a suspected DPRK-linked hack for $5.2 million, an MBU token exploit for $2.2 million, and a MapleStory Universe exploit for $1.2 million.
Crypto manufacture steps up combat against hackers
It comes arsenic the crypto manufacture has been ramping up its efforts to support itself against atrocious actors.
On May 31, Cointelegraph reported that crypto speech BitMEX’s information squad discovered gaps successful the operational information of the Lazarus Group, a North Korean government-sponsored cybercrime network, pursuing a counter-operations probe into the organization, which exposed IP addresses, a database, and tracking algorithms utilized by the malicious group.
Related: Insurance companies contention to screen crypto kidnap and ransom risks
During the archetypal 4th of 2025, hackers stole implicit $1.63 cardinal successful cryptocurrency. PeckShield pointed retired that the Bybit exploit accounted for much than 92% of full losses.
The steadfast besides reported that implicit $87 cardinal successful crypto was mislaid to hacks successful January, portion February saw a melodramatic spike to $1.53 billion, chiefly owed to the Bybit attack. That incidental was 1 of the largest crypto thefts to date.
Magazine: Bitcoin $200K ‘obvious’ breakout, GameStop’s archetypal BTC buy: Hodler’s Digest, May 25 – 31
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