In the first quarter of 2025, blockchain security firm CertiK reported that hackers stole $1.67 billion worth of cryptocurrency, marking a 303% increase from the previous quarter. This alarming trend is echoed by other sources, with a total of $2 billion reported stolen, highlighting a rise in access control attacks. Notably, the quarter saw the largest hack in history, alongside a $300 million rug pull allegedly backed by a head of state. The report indicates that 83% of crypto investors have fallen victim to scams or hacks, with an average loss of $2,622 per victim. The crypto community is urged to enhance security measures to prevent such incidents in the future, as the industry grapples with vulnerabilities and operational security gaps, particularly following the $1.46 billion hack of the Bybit exchange in February 2025. March saw a slowdown in decentralized finance (DeFi) hacks, with reported potential losses of $44.4 million across five major incidents.