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Crypto hack losses saw a significant decline in May, dropping by 40% compared to April, despite approximately $244 million being targeted by cybercriminals. This reduction signals a potential improvement in the crypto industry's security measures and its ongoing efforts to combat malicious actors.
Key Takeaways
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Crypto hack losses decreased by nearly 40% in May, totaling approximately $244.1 million.
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The Cetus decentralized exchange suffered the largest hack of the month, accounting for $223 million, though a significant portion was frozen.
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The industry is actively enhancing its security protocols to counter sophisticated cyber threats.
May's Crypto Security Landscape
May 2025 recorded around 20 major crypto hacks, resulting in total losses of $244.1 million. This figure represents a 39.29% decrease from April's reported losses. The most substantial incident involved the Cetus decentralized exchange on May 22, where $223 million was stolen. However, swift action by Cetus and the Sui Network led to the freezing of $157 million, or about 71% of the stolen funds.
Notable Incidents and Exploits
Beyond the Cetus hack, other significant exploits in May included:
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Cork Protocol: A $12 million attack on the DeFi platform, where attackers stole Wrapped Staked Ether (wstETH) and converted it to Ether (ETH).
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DPRK-linked hack: A suspected North Korean-affiliated attack resulting in $5.2 million in losses.
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MBU token exploit: A $2.2 million exploit targeting MBU tokens.
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MapleStory Universe exploit: A $1.2 million exploit.
Sources
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Crypto crooks targeted $244M in May, hack losses down 40% — PeckShield, PANews.
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Major crypto hacks fell 40% in May, says PeckShield, Cointelegraph.
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