Crypto Hacks Hit Record $2.72B in 2025, Bybit Ethereum Exploit Leads Losses

• Bybit $1.5 billion hack: North Korean actors stole Ethereum from cold wallets in February.

• Coinbase data breach exposed customer info, costing up to $400 million in May.

• Cetus Protocol on Sui lost $223 million; recovered $162 million after smart contract exploit.

Crypto hacks 2025: Record $2.72B stolen from exchanges & DeFi. Bybit’s $1.5B leads; learn key breaches & security lessons now.

What were the biggest crypto hacks in 2025?

Crypto hacks in 2025 shattered previous records, with losses totaling $2.72 billion across centralized exchanges and DeFi protocols, as reported by blockchain intelligence firm TRM Labs. The year began with the historic $1.5 billion Bybit exploit, setting a grim precedent amid falling crypto prices. Attackers demonstrated heightened organization, with North Korean groups playing a prominent role.

How did the Bybit hack unfold and impact the industry?

The Bybit incident in February marked the largest crypto theft ever, with hackers believed to be North Korean stealing $1.4 to $1.5 billion in Ethereum and related tokens. Funds were held in supposedly secure cold, multi-signature wallets provided by Safe. Investigations revealed a high-level Safe developer’s laptop was compromised on February 4 via a malicious application, enabling the breach. This event stunned the sector due to the wallet security breach and highlighted vulnerabilities even in top-tier storage.

Why did crypto hacks surge in 2025?

TRM Labs noted that attacks became “faster, better coordinated, and far easier to scale” than in prior years. Ari Redbord, TRM’s Global Head of Policy, stated: “In 2025, we also saw the continued expansion of North Korea’s IT worker schemes, which further added to the operational sophistication behind many campaigns.” Depressed market prices exacerbated investor risks, while hackers professionalized their methods.

What was the Coinbase data breach?

In May, Coinbase disclosed a significant data breach where overseas subcontractors were bribed for customer details. Hackers demanded $20 million in Bitcoin, prompting CEO Brian Armstrong to offer a matching bounty for their capture. No funds or private keys were stolen, but remediation costs could reach $400 million. Coinbase emphasized that core security remained intact.

DeFi vulnerabilities exposed: Cetus Protocol case

Sui’s leading DeFi exchange, Cetus Protocol, suffered a $223 million exploit in May. Attackers manipulated price calculations using spoof tokens to drain liquidity pools. Notably, $162 million was recovered through frozen funds, and the platform relaunched after 17 days—a positive outlier in DeFi recoveries.

Other major incidents in crypto hacks 2025

Iran’s largest exchange, Nobitex, lost $90 million in June to pro-Israeli group Gonjeshke Darande, who claimed ties to the Islamic Revolutionary Guard Corps. Compliance firm Crystal Intelligence noted potential harm to innocent retail investors. UPCX DeFi saw $70 million drained in April via a compromised private key for its native token, with prices dropping from $4 to $1.20 per CoinGecko data.

Turkish exchange BtcTurk faced a $50 million hack in August, following a $54 million loss in 2024, mainly in Ethereum. Withdrawals were suspended after suspicious activity. South Korea’s Upbit lost $36 million from its Solana hot wallet in November, with Lazarus Group suspected; meme coins were among stolen assets, quickly moved to cold storage.

Frequently Asked Questions

What was the largest crypto hack of 2025?

The Bybit hack topped the list at $1.5 billion in February, attributed to North Korean hackers exploiting a Safe developer’s compromised laptop for Ethereum theft from multi-signature wallets.

Which countries’ exchanges were hit hardest in 2025 crypto hacks?

Exchanges in South Korea like Upbit, Turkey’s BtcTurk, Iran’s Nobitex, and global platforms like Bybit and Coinbase faced major breaches, totaling hundreds of millions amid rising global attack sophistication.

Key Takeaways

• Record losses: $2.72 billion stolen, surpassing prior years per TRM Labs.
• North Korea’s role: Involved in Bybit and Upbit hacks, leveraging IT schemes for advanced ops.
• Security action: Prioritize multi-sig audits, developer device security, and rapid response like Cetus recovery.

Conclusion

Crypto hacks in 2025 underscored escalating threats to exchanges and DeFi, with $2.72 billion lost amid sophisticated tactics from groups like North Korea’s Lazarus. Insights from TRM Labs and incidents like Bybit’s $1.5 billion breach emphasize fortified security measures. As the sector evolves, investors should demand robust protocols to mitigate future risks and protect assets effectively.