Crypto Hacks Drop in May 2025, But Major Breaches Still a Concern

The cryptocurrency market saw a drop in security breaches in May 2025, with about 20 major incidents leading to $244.1 million in losses. While this is still a large amount, it's nearly 40% less than what was lost in April, offering a bit of relief to the crypto community.

The biggest hit came from a single incident — the $220 million hack of Cetus Protocol, a decentralized exchange. However, there was some good news. Thanks to a fast response by Cetus and the Sui Network, $157 million of the stolen funds were frozen, recovering around 71% of the total loss.

Experts say the drop in overall losses could be a sign that ongoing investments in cybersecurity are beginning to show results. If this trend continues, it might lead to a more secure crypto environment in the future.

The Cetus Protocol breach happened on May 22 and was the worst cyberattack of the month. Hackers found a flaw in a key liquidity check, which allowed them to change settings and steal large amounts of money with ease. Although some of the funds remain missing, the quick freeze of assets helped reduce the damage.

Other incidents included:

• A $12 million ransomware attack on Cork Protocol.

• A $5.2 million cyberattack believed to be state-sponsored.

• Smaller hacks affecting the MBU token and MapleStory Universe.

These events, while smaller, show that decentralized platforms still face constant cyber threats.

The crypto industry responded quickly. By the end of May, several reports showed that both private companies and public cybersecurity agencies had increased their monitoring efforts. Exchange platform BitMEX also ran operations that exposed weaknesses in hacking groups like Lazarus, known for past high-value attacks.

This shift to stronger security comes after months of major losses, including a $1.53 billion hit in February caused mostly by a hack on Bybit.

While May’s drop in losses is a positive sign, experts warn that the threat of cyberattacks is still very real. Staying alert and continuing to improve security will be key to protecting digital finance in the months ahead.