Record Crypto Losses as Hackers Target Large Entities

By: Eva Baxter

The year 2025 has seen unprecedented losses in the cryptocurrency sector, with hackers focusing on large entities and digital wallets. According to recent reports, the total value of assets lost due to these cyberattacks has surged to $3.4 billion, marking this as the most substantial figure since 2022. The report sheds light on how aggressive tactics used by cybercriminals have resulted in massive losses, despite improvements in the security infrastructure across decentralized finance (DeFi) protocols.

The bulk of the monetary loss stems from three major incidents, which accounted for 69% of the total crypto losses over the year. A standout attack was the $1.4 billion hack of the crypto exchange Bybit, significantly impacting the crypto landscape with its sheer scale. These large-scale incidents are indicative of a strategic shift where cyber adversaries are focusing on high-value targets as opposed to smaller entities or retail investors, with the largest hacks toweringly outscaling typical incidents.

Moreover, a significant highlight in the realm of cybercrime has been the involvement of North Korean hackers who alone accounted for theft exceeding $2 billion, which represents 59% of all stolen cryptocurrency funds this year. This aligns with ongoing reports of North Korean hackers increasingly targeting the digital assets sector as a means of procuring funds for various purposes.

Experts, including Andrew Fierman from Chainalysis, speculate on the potential evolution of these threats in 2026, noting that the ongoing advancements in security might buffer against the recurrence of such massive losses. However, as the value of digital currencies continues to rise, the allure for hackers grows exponentially, making continuous vigilance and security enhancements critical for safeguarding the ecosystem.