The crypto industry suffered $73.9 million in losses from 19 hacks and exploits in January 2025, a ninefold increase from December, according to blockchain security firm Immunefi. However, losses were down 44.6% compared to January 2024.

The bulk of the damage came from a $69.1 million hack of centralized exchange Phemex and a $2.5 million exploit of DeFi platform Moby Trade. Other smaller attacks hit projects like Orange Finance, UniLend Finance, and The Idols NFT.

BNB Chain was the most targeted blockchain, accounting for half of the losses, followed by Ethereum with 25%. No fraud cases were reported. Immunefi, which has paid over $112 million in bug bounties to ethical hackers, says it has helped prevent more than $25 billion in potential losses across the crypto ecosystem.