The crypto market experienced a mixed month in January 2025. While overall crypto hack losses dropped, centralized finance (CeFi) platforms remain highly vulnerable.
According to a report by Immunefi on January 30, hackers stole over $73 million in digital assets across 19 incidents in January.
Crypto Losses: January 2025 | Report by ImmunefiThis figure marks a 44% decline compared to $133 million lost in January 2024. However, even with this reduction, the risks in centralized finance (CeFi) continue to loom large.
Despite this improvement, the month-on-month data tells another story: December 2024 recorded only $3.8 million in losses.
Meaning January’s losses represented a sharp, ninefold increase from the immediate prior month.
These figures are based on data released on January 30, 2025, by Immunefi.
Among the 19 incidents, the largest hit was suffered by Singapore-based crypto exchange Phemex. Phemex lost over $69 million in a single incident.
Top 10 Crypto Losses January 2025; Source| ImmunefiMoby Trade, an options platform came second, experiencing a loss of $2.5 million.
These attacks illustrate that while the overall losses have declined on a yearly basis, certain platforms continue to face catastrophic breaches that can wipe out substantial amounts of value in one go.
CeFi Remains the Prime Target of Crypto Hacks
Data from Immunefi shows that centralized finance platforms were the primary targets in January 2025.
This accounted for 93% of the total hack losses. DeFi platforms, in comparison, only accounted for 6.5% of losses across 18 incidents.
The concentrated losses in CeFi underscore a growing need for improved security practices.
Experts recommend bug bounty programs and real-time threat detection tools to help safeguard assets.
Immunefi is currently offering over $181 million in bug bounties to incentivize ethical hackers to find and report vulnerabilities.
The platform itself helps protect over $190 billion in crypto user funds.
Market Context and Broader Implications
The crypto world is no stranger to exploits, hacks, and rug pulls, with 2024 witnessing some of its largest breaches.
PlayDapp’s $290 million attack, WazirX’s $234.9 million loss, and Orbit Chain’s $80 million breach are some instances.
All of these highlight ongoing vulnerabilities in the rapidly evolving market.
In 2024 crypto hacks totaled $2.3 billion across 165 incidents, marking a 40% increase from 2023’s $1.69 billion in losses.
In 2023, the most damaging being the Mixim Breach in September, which resulted in an estimated $200 million loss, followed closely by Euler Finance in March with nearly $197 million stolen, and the Multichain incident in July that cost around $126 million.
While January 2025’s figures show a decline on a yearly basis, the spike from December 2024’s low levels indicates that volatility in cybertheft remains a significant risk.
These incidents not only shake investor confidence but also highlight the continuous need for robust security practices across the industry.
The post Crypto Hack Report: Jan Amount Hit $73M, 9x Of December 2024 appeared first on The Coin Republic.
