Another Record Year for Crypto Theft: Over $2.7 Billion Stolen in 2025

As the digital financial landscape continues to evolve, so too do the tactics of cybercriminals.

The year 2025 has been particularly alarming, with over $2.7 billion in cryptocurrency stolen from exchanges and decentralized finance (DeFi) projects. This alarming trend paints a vivid picture of the growing threat that hackers pose to the burgeoning world of digital currency.

The top incident of the year occurred at Bybit, a Dubai-based cryptocurrency exchange, where hackers managed to seize an astonishing $1.4 billion.

Blockchain analysis firms, alongside the FBI, attributed this heist to North Korean government hackers, a group notorious for their relentless focus on exploiting vulnerabilities within the crypto space. This breach stands not only as the largest crypto theft on record but also as a stark reminder of the capabilities of organised cybercrime.

Following the Bybit incident, the previous year’s records were annihilated, with the second and third largest hacks also significant. CeTUS, a decentralized exchange, faced a loss of $223 million, while Balancer, built on the Ethereum blockchain, saw $128 million vanishing from its coffers. There was also the breach of crypto exchange Phemex, where over $73 million was stolen. These incidents underlined a worrying trend that is increasingly gaining momentum.

The data from 2025 indicates not only a record in terms of the volume of cryptocurrency stolen but also highlights a marked increase in the frequency and scale of such crimes. Earlier in 2024, losses attributed to cryptocurrency hacks were reported at approximately $2.2 billion, which was itself a notable surge from even previous years. This escalation begs to be scrutinised deeply.

One prominent player in this security landscape is De.Fi, which maintains the REKT database to compile a comprehensive record of crypto thefts. Their estimates corroborate the findings of Chainalysis, further solidifying the narrative of a rampant surge in cybercrime targeting this sector.

Despite the turmoil surrounding these crises, there remains a silver lining. Many cryptocurrency exchanges and developers of DeFi projects are stepping up their security protocols. With increasing recognition of the vulnerabilities within their systems, the industry is beginning to adapt, making solid strides towards bolstering their defences. This transformation is essential, as it presents a proactive approach rather than a reactive one.

The road ahead calls for transparency, cooperation between industries, and a bolstered will to address these challenges effectively. As offences evolve, it is crucial to remain vigilant, ever-adaptive, and continually bolster the systems we rely upon.