Crypto Scammers Stole $244 Million in May 2025

PeckShield, a blockchain security firm, reported crypto scams in May 2025, resulting in $244 million stolen, reflecting a 40% decrease from April.

The largest incident involved the Cetus decentralized exchange with $223 million lost. PeckShield emphasized the scope and severity of these breaches. Industry collaboration led to the freezing of 71% of stolen funds. Responsible actors remain unknown.

The Cetus decentralized exchange incident, accounting for $223 million, was resolved swiftly, highlighting action from PeckShield and partners. Sui Network also collaborated in freezing stolen assets, reinforcing crypto security measures’ importance.

The financial world faces mounting cyber threats, requiring constant vigilance. Losses in May remain substantial, yet PeckShield’s analysis suggests progress in countering attacks. Improved coordination boosts confidence in digital asset security.

Such breaches impact investor confidence, highlighting the role of security in the long-term adoption of cryptocurrency. Continuous threats challenge platforms and regulators, urging integrated strategies for defense.

In May 2025, ~20 major crypto hacks were recorded, resulting in total losses of $244.1M — a 39.29% decrease from April. – PeckShield, Blockchain Security Firm

Incidents kept the industry on high alert, even as progress was noted. Collaboration in mitigating losses points to stronger future prevention strategies, encouraging industry-wide attention to detail.

Improved defense mechanisms illustrate evolving security landscapes across crypto sectors. Historical trends suggest vigilance and adaptability as keys to enhancing safety, with a 40% reduction exemplifying potential for resilience.