Record Crypto Hack Losses in 2025 Total $2.72 Billion, Highlighting Increasing Sophistication and Scale
In 2025, total losses from crypto hacks reached a record $2.72 billion according to TRM Labs. The largest breach was the February attack on Bybit, attributed to North Korean actors who allegedly stole between $1.4 and $1.5 billion. Safe attributed this breach to a compromised developer workstation.
In May, Coinbase experienced a data breach where criminals demanded $20 million in Bitcoin. Although no funds, passwords, or private keys were compromised, sensitive information was leaked after overseas subcontractors were bribed. Remediation costs could reach up to $400 million.
Also in May, Cetus Protocol suffered a $223 million attack involving spoof tokens to manipulate prices and drain liquidity. Cetus managed to recover about $162 million and resumed operations 17 days later.
June saw the Iranian exchange Nobitex hit for $90 million by a group called Gonjeshke Darande, purportedly linked to the IRGC, impacting many retail investors as reported by Crystal Intelligence.
In April, UPCX faced a $70 million drain due to a compromised private key, stolen as UPC tokens. The token price dropped from roughly $4 to $1.20 by December 5.
BtcTurk, a Turkish exchange, suffered approximately $50 million loss in August, suspending withdrawals after suspicious Ethereum-related transfers, though little further information has been disclosed.
In November, Upbit lost around $36 million from a Solana hot-wallet breach believed to be the work of Lazarus Group; stolen funds were rapidly moved to cold wallets.
TRM Labs noted that attacks in 2025 were faster, more coordinated, and scalable. The schemes involving North Korean IT workers expanded, increasing the operational sophistication of these cybercriminal activities.
