Over $1.77 billion stolen in crypto hacks in Q1 2025 – Finbold report
Following a string of staggering cryptocurrency hacks between January 1 and March 31, 2025 promises to be a particularly damaging year in terms of digital asset theft. More than $1.77 billion was stolen in the first quarter (Q1) of the year, according to Finbold’s Q1 2025 Cryptocurrency Market Report, which assembled figures using data retrieved from hacks tracked by blockchain security firm SlowMist . The figures are made even more staggering by the fact that a singular attack accounts for nearly 85% of all the value stolen. Indeed, in February 2025, a Bybit cold wallet with approximately $1.5 billion worth of Ethereum (ETH) was spirited away by an unknown assailant. Along with representing the lion’s share of cryptocurrency stolen in Q1, 2025, the Bybit hack is larger than the total taken in the first half of 2024 – $1.38 billion – and is three times larger than the total for the first quarter of 2023 – $452 million, putting 2025 on track to be...