02.04.2025 14:25
According to a report by the blockchain security firm CertiK, cryptocurrency investors lost assets worth $1.67 billion in the first quarter of 2025. This figure represents a 303% increase compared to the previous quarter, with the majority of the losses stemming from the Bybit attack. Only 0.38% of the stolen funds were recovered.
The cryptocurrency ecosystem had a poor start in terms of security in 2025. According to a report released by blockchain security firm CertiK, cybercriminals stole $1.67 billion worth of crypto assets in the first quarter of the year. This massive loss represents an increase of more than three times compared to the previous quarter, while the recovery rate of the stolen funds has dramatically decreased.
Cryptocurrency Security Vulnerabilities Cost Investors Billions of Dollars
According to the latest report published by blockchain security company CertiK, the value of crypto assets seized by cybercriminals reached $1.67 billion in the first three months of 2025. This figure shows a significant increase of 303% compared to the last quarter of the previous year.
Experts believe that this massive loss in the first quarter of 2025 corresponds to two-thirds of the total losses experienced throughout 2024. However, the striking point is that a large portion of the losses during this period can be attributed to a single incident. The $1.45 billion loss from the Bybit attack constitutes the lion's share of the total amount.
CertiK experts thoroughly examined the 197 hacking incidents that occurred in the first quarter of the year. It was noted that 98 of these attacks took place on the Ethereum network. The two largest attacks following the Bybit incident were the $71 million Phemex heist that occurred in January and the $49.5 million security breach suffered by the crypto digital banking giant Infini.
According to the report, phishing attacks carried out by stealing victims' personal information continue to be the most common attack method, with 81 incidents. Additionally, in 15 cases, it was found that private keys were compromised.
Another concern that worries security experts is the dramatic drop in the recovery rate of stolen funds. The recovery rate, which was 42.09% in the previous quarter, fell to just 0.38% in the first quarter of 2025. In February, it was reported that no stolen crypto assets were recovered.