20 Crypto Hacks in March Result in $33.46M in Losses: PeckShield

20 Crypto hacks were orchestrated last month, March 2025, which account for $33.46 million in losses.

PackShield, a blockchain security firm, stated on its X account that in addition to the previously reported hacks, the incidents added to the 60+ hacks carried out in the first quarter (Q1), January – March, of 2025.

The security firm added that a $1.63 billion loss was recorded in Q1 of this year, with the Bybit hack representing more than 92% of the losses. Bybit, the Dubai-based Exchange, lost approximately $1.46 billion on February 21.

#PeckShieldAlert Q1 2025 witnessed 60+ crypto hacks, resulting in total losses of $1.63B, a YoY increase of 131% compared to $706M in Q1 2024.

March 2025 recorded 20 crypto hacks, resulting in $33.46M in losses, including a $5M hack affecting #1inch, which was 90% recovered.… pic.twitter.com/Pg3fHpUvUp

— PeckShieldAlert (@PeckShieldAlert) April 1, 2025

In January, hackers stole $87 million, while in February, the amount stolen skyrocketed to an immense $1.53 billion courtesy of Bybit’s horrid hacking.

Top Hacks in March 2025

Furthermore, the firm highlighted the top five hacking incidents that have been witnessed in March. 

It positioned Abracadabra.money in the number one spot. The DeFi cryptocurrency lending platform suffered its second major attack, which cost the company a $13 million loss due to the theft of 6,260 ETH.

In second place is Zoth, a DeFi RWA ecosystem that lost $8.32 million after a hacker gained access to a private key. 

The Ethereum-based platform has since placed a bounty of $500,000 in reward for information that could lead to the hacker’s identification and recovery of the stolen funds.

Zoth Security Bounty

Following the recent security breach, we are committed to strengthening our protocols and ensuring the safety of our ecosystem. As part of our response, we are offering a $500,000 bounty for information leading to the identification of the hacker and… pic.twitter.com/yIxHyAIMkF

— ZOTH (@zothdotio) March 21, 2025

1inch, a decentralized exchange (DEX) for swapping tokens, comes in third place. The exchange lost $5 million to an attacker who exploited a vulnerability affecting its resolvers. However, the attacker returned 90% of the fund after negotiating to keep 10%.

Hyperliquid, a decentralized exchange (DEX) specializing in perpetual futures trading, also experienced a loss in which a whale exploited the Hyperliquid exchange’s liquidation parameters through the Jelly Jelly token. The exchange lost $4 million in the incident, which caused it to delist Jelly perps.

After evidence of suspicious market activity, the validator set convened and voted to delist JELLY perps.

All users apart from flagged addresses will be made whole from the Hyper Foundation. This will be done automatically in the coming days based on onchain data. There is no…

— Hyperliquid (@HyperliquidX) March 26, 2025

The 2025 First Quarter Hacks Surpasses 2024 First Quarter Hacks

According to PackShield, the first quarter of 2025 losses has surpassed what was witnessed in the first quarter of 2024. Which is a 131% year-over-year (YoY) increase compared to $706M in Q1 2024

Similarly, the blockchain security firm reported that the loss to hacking in 2024 exceeded $3.1 billion, a 15% increase compared to the $2.16 billion stolen in 2023. Moreso, $488.5 worth of 2024 stolen cryptos has been recovered.

#PeckShieldAlert 2024 has witnessed a significant resurgence in crypto-related hacking activities. The total value of loss in 2024 has exceeded $3.01B, reflecting a ~15% increase over the $2.61B stolen in 2023.
This total includes $2.15B stolen from crypto hacks and $834.5M… pic.twitter.com/l58x17TE5m

— PeckShieldAlert (@PeckShieldAlert) January 9, 2025

Conclusively, it noted that DeFi protocols were the key targets as hackers are increasingly exploiting poor private key management and vulnerable security approaches. It added that Ethereum was the most targeted blockchain.