Cryptocurrency Hacks Surge to $1.93 Billion in Q1 2025, Matching 2024’s Total Losses

The first quarter of 2025 has set a grim record in cryptocurrency security breaches, with hackers stealing approximately $1.93 billion across 43 incidents. This figure nearly equals the total losses for the entire previous year, underscoring a sharp escalation in cyber threats targeting digital assets.

Centralized exchanges bore the brunt of these attacks, while Tornado Cash emerged as the preferred laundering tool, processing 53% of the stolen funds. Contract exploits dominated the attack vectors, responsible for 62.79% of incidents and 77.56% of financial damages—amounting to $1.5 billion.

The scale of these breaches signals urgent systemic vulnerabilities in crypto infrastructure. Market participants face mounting pressure to bolster security measures as malicious actors grow increasingly sophisticated.