A new report from blockchain security firm PeckShield reveals that crypto scammers lost an estimated $244 million in May 2025, marking a 40% decrease compared to April. The largest theft involved the Cetus DEX hack, where hackers exploited a flaw in the platform’s liquidity parameters, resulting in losses of approximately $223 million. This represents a significant shift from the substantial losses experienced in previous months, as the industry actively works to enhance security measures and combat such activities. 20 major hacks were reported last month, leading to a total loss of $244.1 million. The report emphasizes that while this decrease is notable, further efforts are required to safeguard users against financial fraud in the ever-evolving crypto landscape.