Cybercriminals stole a record $2.7 billion in cryptocurrency in 2025, marking the worst year ever for digital asset theft. The spike in cybercrime was driven largely by a massive breach of the Dubai-based exchange Bybit, where hackers made off with over $1.4 billion in cryptocurrencies. This single attack accounted for more than half of all crypto stolen during the year, highlighting the scale and sophistication of modern cyber heists.
Blockchain security firms reported that state-linked groups, particularly from North Korea, were responsible for a significant portion of the annual thefts. These actors used advanced techniques, including social engineering, phishing, and exploiting exchange vulnerabilities, targeting both centralized exchanges and decentralized finance platforms. Analysts estimate that North Korean hackers alone were behind more than $2 billion of the 2025 losses.
Other notable incidents included high-profile breaches at decentralized protocols and exchanges. Cetus lost $223 million, Balancer was exploited for $128 million, and Phemex suffered thefts exceeding $73 million. These attacks underscore persistent vulnerabilities in cryptocurrency infrastructure, especially in platforms with high-value custodial holdings.
Despite ongoing improvements in blockchain security, the frequency and magnitude of attacks in 2025 reveal the continuing risk faced by crypto investors. Experts warn that unless exchanges and regulators strengthen safeguards and adopt stringent oversight, hackers will continue to exploit weaknesses for financial gain.
The Bybit breach, in particular, has prompted calls for enhanced international cooperation to combat cross-border cybercrime and protect digital asset ecosystems. Governments, exchanges, and cybersecurity firms are increasingly collaborating to trace stolen assets, recover funds, and improve defensive measures, but the rapid pace of innovation in crypto presents ongoing challenges.
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