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DeFi Hacks Dominate May: $302 Million in Crypto Losses Reported


by Coin Edition
for CoinEdition
May 2025 crypto losses at $302 million, highlighting the significant $223 million Cetus DeFi exploit.
  • The most notable incident was the Cetus exploit, which accounted for $223 million of the total losses
  • Overall losses were lower by 16.9% when compared to April
  • There were around 20 crypto hacks and incidents in May

The cryptocurrency sector experienced big security breaches last month, resulting in approximately $302 million in losses, predominantly due to DeFi exploits. The most notable incident was the Cetus exploit, which accounted for $223 million of the total losses.

The data was reported by CertiK (blockchain security firm), and it shows that the overall losses were lower by 16.9% when compared to April. Additionally, phishing scams dropped notably from $337 million to $47.6 million.

Apart from Cetus, there were around 20 crypto hacks and incidents in May, such as Cork Protocol ($12 million), BitoPro ($11.5 million), MobiusDAO ($2.1 million), Demex Nitron ($1 million), and so on.

Interestingly enough, it was stated that there was a decrease in losses stemming from code-related issues in recent years, underscoring the vital role of AI audits and proactive monitoring.

DeFi Vulnerabilities Persist; CeFi Also Faces Challenges

While DeFi platform…

The post DeFi Hacks Dominate May: $302 Million in Crypto Losses Reported appeared first on Coin Edition.

Read the article at CoinEdition

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DeFi Hacks Dominate May: $302 Million in Crypto Losses Reported


by Coin Edition
for CoinEdition
May 2025 crypto losses at $302 million, highlighting the significant $223 million Cetus DeFi exploit.
  • The most notable incident was the Cetus exploit, which accounted for $223 million of the total losses
  • Overall losses were lower by 16.9% when compared to April
  • There were around 20 crypto hacks and incidents in May

The cryptocurrency sector experienced big security breaches last month, resulting in approximately $302 million in losses, predominantly due to DeFi exploits. The most notable incident was the Cetus exploit, which accounted for $223 million of the total losses.

The data was reported by CertiK (blockchain security firm), and it shows that the overall losses were lower by 16.9% when compared to April. Additionally, phishing scams dropped notably from $337 million to $47.6 million.

Apart from Cetus, there were around 20 crypto hacks and incidents in May, such as Cork Protocol ($12 million), BitoPro ($11.5 million), MobiusDAO ($2.1 million), Demex Nitron ($1 million), and so on.

Interestingly enough, it was stated that there was a decrease in losses stemming from code-related issues in recent years, underscoring the vital role of AI audits and proactive monitoring.

DeFi Vulnerabilities Persist; CeFi Also Faces Challenges

While DeFi platform…

The post DeFi Hacks Dominate May: $302 Million in Crypto Losses Reported appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Binance CEO: From ‘Scam’ to ‘Next Big Thing’—How Institutions Flipped on Crypto

Binance CEO: From ‘Scam’ to ‘Next Big Thing’—How Institutions Flipped on Crypto

Binance CEO Richard Teng has drawn attention to the stunning transformation in how cr...
Markets Brace for July 30 Volatility Amid Fed and Global Data Releases

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Analyst MartyParty has identified Wednesday, July 30, as a critical day for financial...