(AGENPARL) – Fri 11 April 2025 For Immediate Release
Contact: Diana Paluteder
128 City Road, London
United Kingdom
EC1V 2NX
** Over $1.77 billion stolen in crypto hacks in Q1 2025
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The string of major cryptocurrency hacks between January 1 and March 31 has already positioned 2025 to become one of the industry’s most damaging years on record in terms of theft.
** The three biggest Q1 hacks saw the theft of $1.65 billion in crypto
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The biggest attack of Q1 2025 has, undoubtedly, been the draining of a Bybit cold wallet executed during a scheduled transfer to a hot wallet. The assailant made off with $1.5 billion, and the attack accounts for nearly 85% of the total value taken in the year’s opening months.
Though much smaller at $100 million, the Libra (LIBRA) rug pull is also both interesting and shocking as the meme coin was, before the crash, promoted by multiple prominent figures, including the President of Argentina Javier Milei and the founder of Barstool Sports Dave Portnoy.
Similarly, the third-biggest attack of 2025, the $50 million drain of the Infini stablecoin neobank, was likewise interesting as it involved an individual who helped develop the contract for the company, unduly retaining administrator privileges and using them to drain assets.
** Crypto hackers may have taken far more than $1.77 billion in Q1
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Furthermore, as large as the Q1 losses have been, the known figures are likely far smaller than the actual amount stolen.
“The $1.77 billion reported in crypto hacking incidents during Q1 2025 only reflects publicly known cases,” said Jordan Major and Diana Paluteder, co-authors of Finbold’s Q1 2025 Cryptocurrency Market Report. “In reality, the total value lost is likely much higher, as many breaches go unreported or don’t disclose the full extent of financial damage. At this pace, 2025 is on track to become a record-breaking year for crypto-related security breaches.”
Indeed, historical records show that the entire 2024 saw a loss of $2.2 billion, meaning that if hacks continue at the same rate as in Q1, there will be a 221.82% year-over-year (YoY) increase in the value of stolen cryptocurrency by the end of 2025.
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Finbold.com, 128 City Road, London, England EC1V 2NX United Kingdom