- Main event was a significant exploit on Cetus Protocol.
- Losses decreased by 40%, marking a recovery.
- Sui network froze $157 million, mitigating further losses.
In May 2025, approximately $244 million was lost due to crypto scams, a 40% decrease from April, with the Cetus Protocol hack on the Sui network being the largest incident.
The reduction in losses highlights improved industry recovery and cybersecurity measures amid ongoing DeFi exploit trends.
Cetus Protocol, a DEX on the Sui network, experienced the month’s largest theft of $220–223 million. Sui Network’s swift action froze $157 million of this, demonstrating enhanced recovery capabilities.
Cork Protocol faced a $12 million loss from a DeFi attack, while other smaller incidents included MBU Token and MapleStory Universe. Both suffered notable financial setbacks in May.
Cybersecurity firms like PeckShield and Dedaub provided crucial analysis of these incidents. Their investigations revealed vulnerabilities used by attackers to manipulate liquidity and exploit protocol weaknesses. PeckShield emphasized:
“In May 2025, ~20 major crypto hacks were recorded, resulting in total losses of $244.1M — a 39.29% decrease from April.” – PeckShield on X
The financial impacts of May’s scams spotlight the crypto sector’s volatile environment. Industry responses are increasingly geared toward quick asset recovery and vulnerability management. A discussion on recent cybersecurity incidents indicates that improvements in rapid asset recovery could mitigate long-term losses.
Historical trends show that DeFi and Layer 1 tokens, such as ETH and SUI, remain prime targets. The landscape of crypto security continues to experience significant challenges amid sophisticated attack strategies.
Regulatory and technological outcomes may evolve as more institutions address these security threats. Advancements in blockchain security measures aim to diminish losses and bolster confidence in cryptocurrency markets.
