Crypto Hacks Amount to Nearly $3 Billion in 2025, Despite Fewer Incidents – A Comprehensive Overview

As we near the end of a significant year for the cryptocurrency industry, a recent report has disclosed that the sector has suffered losses totaling nearly $3 billion due to new tactics employed by cybercriminals and increasing complexities in security.

Key Takeaways

The total amount stolen from cryptocurrency hacks in 2025 rose by 46% compared to 2024.
Security incidents decreased by 51%, indicating fewer but larger-scale hacks.
Decentralized Finance (DeFi) was the most targeted sector with over half of the reported hacks.
Regulatory enforcement has intensified in response to ongoing scams and frauds in the crypto space.
Funds amounting to nearly $387 million were successfully returned or frozen from lost assets.

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2025 Sees a Rise in Crypto Losses

A report released by blockchain security firm SlowMist on Tuesday underscored the significant security obstacles that the cryptocurrency industry has confronted during 2025.

The report indicated that the financial losses from cryptocurrency hacks skyrocketed by 46% compared to the previous year. This trend had been hinted at in earlier assessments, showing that crypto theft was alarmingly more severe in the first half of 2025 than in all of 2024 combined.

According to a mid-year analysis by Chainalysis, the activity up to June 2025 indicated a steeper rise in incidents compared to any prior year, marked by a concerning consistency.

As the year draws to a close, SlowMist reports that security breaches have cost approximately $2.935 billion, greatly exceeding the $2.013 billion lost in 2024. Interestingly, while the total losses climbed, the number of incidents fell significantly—by 51%. In 2025, there were 200 reported breaches, in stark contrast to 410 reported in 2024.

The report highlighted that Decentralized Finance (DeFi) remained the primary target this year, accounting for 126 security incidents, which represents around 63% of all hacks. DeFi-related losses amounted to about $649 million, reflecting a 37% decrease in incident count from 339 in 2024 and a 62% drop in financial losses from $1.029 billion.

On the other hand, Centralized Exchange (CEX) platforms experienced 22 incidents that resulted in a staggering loss of $1.809 billion. A major contributor to this loss was the hack on Bybit in February, where nearly $1.46 billion was stolen in a single attack—marking it as the most significant security event of the year.

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Distribution of incidents and losses by sector. Source: SlowMist

Strengthening Regulatory Measures

While phishing attacks continued to be prevalent, SlowMist noted that scams and intrusive strategies evolved throughout 2025, making them increasingly difficult to identify. Cybercriminals have advanced their methods beyond traditional tactics:

Traditional phishing has evolved into more complex forms like permission hijacking, execution of malicious code, and supply-chain poisoning. Instead of relying on a single tactic, attackers are now utilizing a blend of social engineering, browser vulnerabilities, new protocol features, and hybrid strategies to orchestrate deceptive and harmful attack sequences.

The report also noted a marked rise in regulatory actions against cryptocurrency-related financial crimes this year. Law enforcement and regulatory agencies have actively engaged in addressing issues related to money laundering, fraud, sanction evasion, and criminal funding.

Importantly, 18 incidents this year resulted in the recovery or freezing of lost funds. In total, these incidents accounted for $1.95 billion in stolen assets, with nearly $387 million successfully returned or frozen.

The report concluded that the ongoing advancement of the Web3 industry will not depend solely on technical innovations. Organizations that prioritize building stronger internal security measures, transparent fund governance, and comprehensive Know Your Transaction (KYT) and Anti-Money Laundering (AML) practices are likely to achieve greater resilience in the upcoming market cycle.

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The total crypto market capitalization stands at $2.96 trillion according to the latest week’s chart. Source: TOTAL on TradingView