Crypto hacks resulted in approximately $244.1 million in losses during May 2025. According to blockchain security firm PeckShield, this marks a 39.29% decrease from April’s figures. The month recorded roughly 20 major incidents, with coordinated recovery efforts successfully freezing some stolen assets. The most notable development involved the collaborative response between Sui ( SUI ) validators and Cetus Protocol following a massive $220 million exploit. Network participants managed to freeze $157 million of the stolen funds, a 71% recovery rate from the total theft amount. #PeckShieldAlert In May 2025, ~20 major crypto hacks were recorded, resulting in total losses of $244.1M—a 39.29% decrease from April. Notably, @CetusProtocol & #SUI have frozen a combined $157M of stolen funds (representing 71% recovery from the $220M theft). #Top 5 Hacks in… pic.twitter.com/ZJmGZvbthS — PeckShieldAlert (@PeckShieldAlert) June 1, 2025 You might also like: Crypto VC funding: $161m floods startups as token prices sway Cetus exploit dominates monthly losses The Cetus Protocol incident was the largest single hack of the month and accounted for the majority of losses. According to blockchain security firm Dedaub, attackers exploited a vulnerability in the most significant bits check mechanism. This allowed them to manipulate liquidity parameters by substantial margins and establish disproportionately large positions with minimal effort. While hackers successfully looted $220 million from the protocol, approximately $63 million remains in the exploiter’s wallet, with the remainder frozen through validator coordination. The remaining top exploits of the month included Cork Protocol losing $12 million. A purported North Korean-affiliated strike that caused losses of $5.2 million came next. The MBU token suffered a $2.2 million exploit, while MapleStory Universe experienced a $1.2 million breach and rounded out the top five incidents. Despite the major absolute losses, May’s figures are an improvement over previous months in the context of 2025’s overall security losses. More than $1.63 billion worth of cryptocurrencies was stolen in the first quarter of this year. Additionally, PeckShield said that almost 92% of all losses at that time were caused by the Bybit vulnerability. January’s security incidents resulted in over $87 million in stolen cryptocurrency, while February experienced a surge to $1.53 billion. This was primarily driven by the massive Bybit attack that ranks among the largest crypto thefts in history. Read more: NFT sales plunge 16.7% to $105.7m, Ethereum sales surge 30%
