The cryptocurrency sector saw a dramatic 39.29% reduction in hack-related losses during May 2025, with blockchain analysts attributing the improvement to enhanced security measures and rapid response protocols.

Single Exploit Dominates Monthly Theft Figures

Blockchain security firm PeckShield's May 31 report reveals $244.1 million disappeared through 20 major incidents — a sharp decline from April's figures. The Cetus decentralized exchange breach on May 22 accounted for 【91%】 of total losses, with attackers exploiting a vulnerability in liquidity parameter checks to siphon $223 million within hours.

——Security teams successfully froze $157 million (71%) of the stolen Cetus funds through coordinated action with the Sui Network—— marking one of crypto's most effective asset recovery operations. The second-largest incident involved Cork Protocol losing $12 million in wrapped staked Ether, later converted to ETH.

North Korean Hackers Remain Persistent Threat

Among May's top five exploits, a $5.2 million attack bore hallmarks of the Lazarus Group — the North Korean cybercrime network. BitMEX's security team recently uncovered critical weaknesses in the group's operations, exposing their IP addresses and tracking algorithms through counter-surveillance.

Notably, February 2025 remains the worst month for crypto thefts this year at $1.53 billion, primarily due to the massive Bybit exchange breach. PeckShield data shows Q1 2025 losses totaled $1.63 billion, with exchange vulnerabilities accounting for 92% of stolen value.

Industry-Wide Security Push Shows Results

The reduction in May's losses coincides with intensified cybersecurity efforts across exchanges and DeFi platforms. Dedaub's analysis of the Cetus hack revealed attackers manipulated "most significant bits" checks — a sophisticated attack vector prompting immediate protocol upgrades industry-wide.

【40%】 of May's stolen funds came from three smaller exploits: a $2.2 million MBU token theft and $1.2 million MapleStory Universe breach joined the DPRK-linked incident. Security firms note hackers increasingly target cross-chain bridges and liquidity pools, though improved monitoring has reduced successful withdrawals.

As crypto insurers expand coverage for kidnap and ransom risks, the sector's proactive security measures demonstrate growing maturity. With frozen funds recovery rates improving and real-time threat detection advancing, 2025 may yet reverse the alarming theft trends seen earlier this year.