Cryptocurrency breaches reached a record $2.7 billion in 2025, the highest annual tally in the industry’s history. The Bybit hack accounted for about $1.4 billion of losses, underscoring the scale of attacks against major exchanges.
Analysts say North Korean government-linked actors were responsible for the majority of this activity, funds used to support sanctioned nuclear and ballistic missile programs. Other notable incidents included Cetus with $223 million, Balancer at roughly $128 million, and the Phemex exchange at about $73 million. Industry trackers note the trend is upward from 2024’s $2.2 billion and 2023’s $2.0 billion, signaling ongoing risk to DeFi and centralized platforms.
Security improvements, including thorough smart-contract audits and continuous asset monitoring, will be essential to reduce this risk. Industry participants must maintain vigilance and accelerate defensive measures to deter future breaches.
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