Crypto thefts hit record $2.7 billion in 2025

Cybercriminals stole over $2.7 billion in cryptocurrency in 2025, setting a new record for crypto-stealing hacks. According to blockchain-monitoring firms, the surge was driven primarily by a massive breach at Dubai-based cryptocurrency exchange Bybit, where hackers stole around $1.4 billion. The Federal Bureau of Investigation (FBI) and blockchain analysis firms accused North Korean government hackers—described as “the most prolific group targeting crypto”—of carrying out this massive heist. The Bybit incident represents the largest known cryptocurrency theft of all time, eclipsing previous major breaches such as the 2022 Ronin Network breach of $624 million and the 2022 Poly Network breach of $611 million.

The record-setting year saw dozens of other heists targeting cryptocurrency exchanges, web3 (decentralized web ecosystem) projects, and decentralized finance (DeFi, or financial services on public blockchains) protocols. According to data from cryptocurrency-monitoring firms Chainalysis and TRM Labs, the total stolen reached over $2.7 billion, with Chainalysis tracking an additional $700,000 stolen from individual crypto wallets. De.Fi, a web3 security firm that runs the REKT database to track crypto thefts, also estimated that $2.7 billion was stolen or hacked in 2025.

Other significant crypto hacks this year included:

• Cetus: The decentralized exchange lost $223 million to hackers.
• Balancer: The protocol built on the Ethereum blockchain suffered a breach resulting in a loss of $128 million.
• Phemex: Cybercriminals stole more than $73 million from the crypto exchange.

This activity represents an escalation from previous years. In 2024, hackers stole $2.2 billion in cryptocurrency, while the year before, in 2023, the total was $2 billion.

North Korean government hackers remained “the most successful crypto thieves” throughout 2025. According to blockchain analysis firms Chainalysis and Elliptic, these hackers stole at least $2 billion over the course of the year. The firms estimate that North Korean hackers have stolen around $6 billion since 2017. North Korea uses these stolen cryptocurrency funds to finance its sanctioned nuclear weapons program.

Why it matters

The $2.7 billion stolen in 2025 marks a new record for crypto-stealing hacks, with North Korean government hackers identified as the most prolific actors using these funds to support sanctioned nuclear weapons programs.