Skip to content
- Crypto Losses Exceed $1.6B in 2025, Surpassing Total Losses of 2024 in Just Two Months
- Bybit Hack Leads Crypto Losses, CeFi Platforms Bear the Brunt of Security Breaches
- BNB Chain and Ethereum Targeted, Account for 72.8% of Crypto Losses in February
Crypto losses have already exceeded $1.6 billion in 2025, thus surpassing the total losses of 2024, which were $1.49 billion. This sharp increase can indeed be considered a negative as it points out a rather worrying trend at the beginning of the year for the cryptocurrency market. Immunefi breaks down its losses on the basis of two significant events, such as Bybit, losing $1.46 billion, and a stablecoin bank known as Infini, which faced a hack of $49.5 million.
CeFi Platforms Bear Brunt
This situation has been making waves in the crypto industry due to these security breaches. In February, the largest share of the attacks was aimed at centralized finance (CeFi) platforms. Specifically, the Bybit hack was the biggest contributor to the losses as it represented 95.5% of February’s overall losses. On the other hand, decentralized finance (DeFi) platforms witnessed eight hacks, although, contributing to only 4.5% of the whole industry’s losses.
Source: Immunefi
The result provided in the report shows a radically different situation of CeFi and DeFi. February’s losses were twenty times more than January’s losses which stood at $73.9 million and rose to more than $1.5 billion. Hacks remained the unsurpassed leading factor causing the increase in losses; fraud was comparatively a minor factor. This report pointed out that hackers are still the biggest risk to the stability of the market.
Targeted Blockchains and Crypto Losses
The two most popular blockchains that were targeted the most were BNB Chain and Ethereum. The two security issues alone were responsible for 72.8% of the total losses that were experienced. BNB Chain and Ethereum faced four assault each. The other blockchains such as Abstract, Mode, and Optimism also fell victim to one attack each though not as severe.
February’s hack damage was overwhelming. Total losses were valued at $1.53 billion, a growth than the previous year’s figure for March only. This increase goes to show how the attackers are becoming more professional and advanced in their actions. There are already reports that similar attacks are soon to be expected Externment has seen this type of attack as just the beginning. These attacks are commonly associated with state-backed groups such as the Lazarus Group.
Immunefi’s report also reveals that more hacking groups are involved in thefts related to cryptocurrencies. The Lazarus Group has been attributed to the Bybit hack, which makes this attack the biggest crypto theft in the year. This group has been known to attack large social media sites and has stolen millions in the past. Some people also expect their power will only increase in 2025.
