Crypto hackers steal over $2.7 billion in 2025 as nation-state attacks reach record highs
Cybercriminals have stolen more than $2.7 billion in cryptocurrency throughout 2025, according to new data highlighting a turbulent year for digital assets.
- Dec 24, 2025,
- Updated Dec 24, 2025 1:17 PM IST
The cryptocurrency industry has faced a devastating year in 2025, with hackers stealing more than $2.7 billion across dozens of high-profile exploits. New data from blockchain intelligence firms Chainalysis and TRM Labs reveals that while the total number of individual breaches has fluctuated, the sheer scale of modern heists has set a grim new record.
A significant portion of this year's losses can be traced back to a single catastrophic event: the $1.5 billion hack of the Bybit exchange in February. Security researchers at Immunefi, a leading Web3 bug bounty platform, identified this as the largest crypto theft in history. It alone accounted for roughly 69% of all funds stolen from services in the first half of the year.
According to Steve Schmidt, Chief Security Officer at Amazon, and various cybersecurity analysts, a primary driver of this surge is the Lazarus Group, a notorious hacking syndicate linked to North Korea. Chainalysis reports that the Democratic People’s Republic of Korea (DPRK) stole at least $2.02 billion this year, a 51% increase year-over-year. These operatives are increasingly using sophisticated "social engineering" tactics, such as posing as recruiters or investors to trick company executives into providing system access.
North Korean hackers have stolen around $6 billion in cryptocurrency since 2017. They reportedly use the stolen cryptocurrency to fund North Korea's sanctioned nuclear weapons program.
While Decentralised Finance (DeFi) platforms were the main victims in previous years, 2025 saw a pivot towards Centralised Finance (CeFi) and cross-chain bridges. Hackers are now exploiting private key compromises and "smart contract" errors with greater precision. Despite these losses, there is a silver lining: recovery efforts are becoming more organised.
Chainalysis noted that coordinated responses between exchanges and law enforcement have successfully frozen millions in stolen assets shortly after they were moved. For the Indian tech ecosystem, these findings underscore the urgent need for robust "liveness" checks and zero-trust security architectures to defend against increasingly professionalised global cybercrime.
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The cryptocurrency industry has faced a devastating year in 2025, with hackers stealing more than $2.7 billion across dozens of high-profile exploits. New data from blockchain intelligence firms Chainalysis and TRM Labs reveals that while the total number of individual breaches has fluctuated, the sheer scale of modern heists has set a grim new record.
A significant portion of this year's losses can be traced back to a single catastrophic event: the $1.5 billion hack of the Bybit exchange in February. Security researchers at Immunefi, a leading Web3 bug bounty platform, identified this as the largest crypto theft in history. It alone accounted for roughly 69% of all funds stolen from services in the first half of the year.
According to Steve Schmidt, Chief Security Officer at Amazon, and various cybersecurity analysts, a primary driver of this surge is the Lazarus Group, a notorious hacking syndicate linked to North Korea. Chainalysis reports that the Democratic People’s Republic of Korea (DPRK) stole at least $2.02 billion this year, a 51% increase year-over-year. These operatives are increasingly using sophisticated "social engineering" tactics, such as posing as recruiters or investors to trick company executives into providing system access.
North Korean hackers have stolen around $6 billion in cryptocurrency since 2017. They reportedly use the stolen cryptocurrency to fund North Korea's sanctioned nuclear weapons program.
While Decentralised Finance (DeFi) platforms were the main victims in previous years, 2025 saw a pivot towards Centralised Finance (CeFi) and cross-chain bridges. Hackers are now exploiting private key compromises and "smart contract" errors with greater precision. Despite these losses, there is a silver lining: recovery efforts are becoming more organised.
Chainalysis noted that coordinated responses between exchanges and law enforcement have successfully frozen millions in stolen assets shortly after they were moved. For the Indian tech ecosystem, these findings underscore the urgent need for robust "liveness" checks and zero-trust security architectures to defend against increasingly professionalised global cybercrime.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine