Cybercriminals stole an estimated $2.7 billion in cryptocurrency this year, setting a new record for crypto-related thefts, according to multiple blockchain monitoring firms. The figure underscores a continued rise in attacks against cryptocurrency exchanges and decentralized finance platforms.
Bybit Breach Drives Annual Total
The largest incident by far was the breach of Dubai-based crypto exchange Bybit, where hackers made off with roughly $1.4 billion in cryptocurrency. Blockchain analysis firms and the FBI have attributed the attack to North Korean government-backed hackers, who have emerged as the most prolific crypto thieves in recent years.
The Bybit breach now stands as the largest known crypto theft ever recorded, and ranks among the biggest financial heists in history. Before this incident, the biggest crypto hacks were the 2022 attacks on Ronin Network and Poly Network, which netted hackers $624 million and $611 million respectively.
Industry Data Confirms Record Losses
Blockchain monitoring firms Chainalysis and TRM Labs both estimated that $2.7 billion was stolen in crypto during 2025, based on data shared with TechCrunch. Chainalysis also tracked an additional $700,000 stolen from individual crypto wallets.
The web3 security firm De.Fi, which runs the REKT database of crypto thefts, separately reached the same $2.7 billion estimate for stolen and hacked cryptocurrency this year.
North Korean Hackers Dominate Crypto Crime
North Korean government-linked hackers accounted for at least $2 billion of the stolen funds in 2025, according to Chainalysis and Elliptic. Elliptic estimates that hackers tied to Kim Jong Un’s regime have stolen around $6 billion in crypto since 2017, with governments and analysts saying the proceeds help fund the country’s sanctioned nuclear weapons program.
Other Major Exchange And DeFi Attacks
Beyond Bybit, several other high-profile hacks contributed to the annual total. These included a $223 million theft from decentralized exchange Cetus, a $128 million breach of Ethereum-based protocol Balancer, and a $73 million attack on crypto exchange Phemex.
An Escalating Trend
The surge in theft continues a multi-year upward trend. Hackers stole $2.2 billion in crypto in 2024, following $2 billion in losses in 2023. Despite increased scrutiny and security investments, cybercriminals targeting crypto exchanges and DeFi projects show little sign of slowing down.
Featured image credits: Wikimedia Commons
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