The cryptocurrency sector experienced substantial losses in January 2025, with reports indicating over $73.9 million lost to hacks and exploits. According to the Web3 security platform Immunefi, this figure represents a significant increase in hacking incidents, totaling 19 in the month, which is a ninefold rise compared to December 2024. The hardest-hit platforms included Phemex, which suffered losses of $69 million, and Moby Trade, with losses amounting to $2.5 million. In 2024, the overall losses in the crypto industry reached approximately $2.3 billion across 165 hacking incidents. Additionally, CertiK reported that the total losses due to various exploits, hacks, and scams in January 2025 could be around $98 million, with phishing accounting for about $8 million of that total.