Crypto-related hacks resulted in approximately $244.1 million in losses during May 2025, according to new data from blockchain security firm PeckShield. While still significant, the total marks a 39.29% drop from April, signaling improved security response and mitigation efforts across decentralized networks.
Roughly 20 major incidents occurred throughout the month, but many involved successful asset recovery campaigns. The most notable was the collaborative effort between Sui validators and Cetus Protocol, who managed to freeze $157 million of the $220 million stolen in a single exploit—an impressive 71% recovery rate.
The Cetus Protocol breach dominated May’s losses. Analysis from blockchain auditing firm Dedaub revealed that attackers exploited a flaw in the most significant bits check mechanism. This allowed them to manipulate liquidity pools and create outsized positions with minimal input, resulting in one of the most damaging hacks of 2025.
Although the attackers looted $220 million, the majority of the funds were either frozen or recovered. As of now, about $63 million remains in the exploiter’s wallet. The Cetus team has not disclosed whether negotiations or bounty offers are underway.
Other major incidents in May included a $12 million exploit on Cork Protocol and a $5.2 million hack believed to be linked to North Korean threat actors. Additional breaches included the $2.2 million MBU token exploit and a $1.2 million loss from MapleStory Universe, rounding out the top five.
Despite the high-profile attacks, May’s figures reflect a broader improvement in the industry’s incident response capabilities. Over $1.63 billion was stolen in Q1 2025 alone, with the $1.53 billion Bybit exploit in February being the year’s largest. For more ongoing updates on crypto security and blockchain technology, visit TheCoinInfo.
