Crypto Hacks Hit Record $2.7 Billion in 2025, with North Korea Blamed for Largest-Ever Heist

A staggering $2.7 billion vanished from the crypto world this year, setting a grim new record for digital asset theft. According to multiple blockchain-monitoring firms, dozens of heists targeting cryptocurrency exchanges and DeFi projects in 2025 underscored the industry's persistent security vulnerabilities. The year was marked by the largest single crypto theft of all time, with U.S. authorities and security firms pointing the finger at North Korea.

The Bybit Heist: A Breach of Unprecedented Scale

The year's most significant attack was the breach of Dubai-based crypto exchange Bybit, where hackers made off with approximately $1.4 billion in crypto. This incident isn't just a record for the crypto space; it's one of the largest financial heists in history. It dramatically eclipses previous records set by the 2022 breaches against the Ronin Network ($624 million) and the Poly Network ($611 million). Blockchain analysis firms, as well as the FBI, have accused North Korean state-sponsored hackers of carrying out this massive operation.

North Korea's Digital Treasury

North Korean government hackers were once again the most prolific crypto thieves in 2025. According to security firms Chainalysis and Elliptic, the group stole at least $2 billion this year alone. This brings their estimated total loot since 2017 to around $6 billion. It's widely believed that North Korea uses the stolen funds to finance its sanctioned nuclear weapons program, making these heists a matter of international security.

A Worsening Trend

The total amount stolen from the crypto ecosystem has been climbing steadily. Hackers stole $2.2 billion in 2024, up from $2 billion in 2023. The $2.7 billion figure for 2025 is a consensus estimate from firms like Chainalysis and TRM Labs. Other significant crypto hacks this year included the ones against Cetus, a decentralized exchange, which lost $223 million, and Balancer, a protocol on Ethereum, which resulted in a loss of $128 million.