Cybercriminals stole a record $2.7 billion in cryptocurrency in 2025, according to blockchain analytics firms Chainalysis and TRM Labs. North Korean hackers accounted for over $2 billion of the total, marking a 51% increase from the previous year. The largest single incident was a $1.4 billion breach at the Bybit exchange.
The year 2025 saw cryptocurrency thefts escalate to unprecedented levels, with total losses hitting $2.7 billion. This figure surpasses previous records and represents the third consecutive year of rising incidents, driven largely by nation-state actors. North Korea-linked groups, such as Lazarus, executed fewer but more profitable attacks, stealing $2.02 billion overall. Their cumulative hauls now exceed $6.75 billion, funding programs amid international sanctions.
The standout event was the mid-2025 Bybit exchange hack, where attackers siphoned $1.4 billion in various tokens. Blockchain analysis traced the funds to North Korean wallets, confirming state involvement. Bybit quickly halted withdrawals and worked with firms like Chainalysis to recover portions through disrupting money mixers. As Chainalysis noted in its preview for the 2026 Crypto Crime Report, "North Korean hackers stole $2.02 billion in cryptocurrency in 2025, a 51% year-over-year increase."
While centralized exchanges like Bybit remained vulnerable due to issues like private key mismanagement and supply-chain weaknesses, decentralized finance (DeFi) protocols fared better. DeFi hacks totaled under $500 million, thanks to improved auditing, multi-signature wallets, and insurance measures. Personal wallet breaches surged to 158,000 incidents affecting 80,000 victims, but the stolen value fell to $713 million from $1.5 billion in 2024.
Recovery efforts benefited from blockchain's transparency, with over $300 million frozen via exchange blacklists and international cooperation, including U.S. Treasury sanctions. TRM Labs reported on X, "In our latest report, we detail how North Korea was responsible for over half of the USD 2.7 billion stolen in crypto hacks in 2025."
Regulators responded with heightened scrutiny, such as the EU's MiCA framework and U.S. proof-of-reserves mandates. Industry experts anticipate further advancements in AI defenses and threat-sharing to counter ongoing geopolitical cyber risks.