Cetus Breach and North Korea Theft Led to $244 Million Crypto Losses in May

The crypto industry lost over $244 million to hacks and scams in May 2025, according to blockchain security firm PeckShield. While the figure remains substantial, it marks a 39% decline compared to April’s $402 million loss, signaling a temporary slowdown in malicious activity. Crypto Hackers are Now Trying to Frame Victims PeckShield’s data shows the attacks spanned various protocols, with some incidents resulting in minor breaches and others involving catastrophic losses. The largest exploit involved Cetus Protocol, a decentralized exchange operating on the Sui blockchain, which lost roughly $223 million in a single attack source: https://beincrypto.com/crypto-hacks-244-million-losses-may/