A recent report by PeckShield reveals a significant decrease in cryptocurrency hacks during May 2025, with losses falling to $244 million. This marks a 39.29% drop compared to April’s figures. The primary culprit behind this decline was the Cetus Protocol on the Sui network, which suffered a $220 million exploit. However, the response from the network has been positive with Sui validators recovering over 71% of the stolen funds. Despite these decreases, various high-profile incidents took place across the crypto ecosystem, including the Cork Protocol and MBU token. Notably, Solana’s Raj Gokal faced an extortion attack following a KYC data breach. 20 major hacks were identified, highlighting ongoing security challenges in the industry. However, the community reacted to this with increased focus on preventative measures and asset recovery efforts.