$1.63 Billion Lost: Crypto Suffers Brutal Start to 2025
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.
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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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