The Rise of Crypto Heists: Cybercriminals Steal Record $2.7 Billion in 2025
Cybercriminals have set a new record in 2025 by stealing $2.7 billion in cryptocurrency through various hacks, marking a significant increase from previous years, according to blockchain-monitoring firms.
Throughout the year, numerous crypto heists targeted cryptocurrency exchanges, web3 platforms, and decentralized finance (DeFi) projects. The largest breach occurred at the Dubai-based crypto exchange Bybit, where hackers managed to abscond with approximately $1.4 billion in crypto. Both blockchain analysis firms and the FBI pointed fingers at North Korean government hackers as the perpetrators of this massive heist, highlighting their status as one of the most prolific groups targeting crypto in recent years.
The magnitude of the Bybit hack makes it the largest known crypto theft to date and ranks as one of the most substantial financial heists in human history. Prior to this incident, the largest crypto thefts were recorded in 2022, with hackers netting $624 million from the Ronin Network and $611 million from the Poly Network.
According to estimates from cryptocurrency-monitoring firms Chainalysis and TRM Labs, a total of $2.7 billion was stolen in crypto in 2025, with an additional $700,000 taken from individual crypto wallets. De.Fi, a web3 security firm that maintains the REKT database tracking crypto thefts, also reported the same figure of $2.7 billion in stolen and hacked crypto last year.
North Korean government hackers emerged as the most successful crypto thieves in 2025, with Chainalysis and Elliptic estimating that they stole at least $2 billion during the year. Since 2017, it is believed that Kim Jong Un’s hackers have pilfered around $6 billion, using these illicit funds to finance the country’s sanctioned nuclear weapons program.
Other notable crypto hacks in 2025 included breaches at decentralized exchange Cetus, resulting in a $223 million loss for the platform; Balancer, an Ethereum-based protocol that saw $128 million stolen; and Phemex, a crypto exchange where cybercriminals made off with over $73 million.
The trend of cybercriminals targeting crypto exchanges and DeFi projects shows no signs of slowing down. In 2024, hackers stole $2.2 billion in crypto, while the total for 2023 stood at $2 billion, underscoring the growing threat posed by these malicious actors in the digital asset space.
