Crypto Hacks Cost $2 Billion in Q1 2025: Access Control Flaws Drive Losses

A recent report reveals a significant loss of over $2 billion in cryptocurrency hacks during the first quarter of 2025. This substantial loss, attributed to access control vulnerabilities, highlights ongoing security concerns within the industry. $1.63 billion of these losses are directly linked to flaws in the way digital assets are secured. Experts warn that these flaws often originate from weak security protocols implemented by exchanges and wallets. PeckShield, a leading blockchain security firm, has emphasized the need for robust access control measures and diversified security protocols across Web3 ecosystems to mitigate future risks.