Crypto hacks cost $2.9B in 2025 as fewer attacks cause bigger losses

The cryptocurrency industry faced a tumultuous year in 2025, as blockchain security incidents resulted in staggering financial losses.

According to the latest report from SlowMist, a leading blockchain security firm, the sector recorded approximately 200 security incidents, leading to a total loss of $2.9 billion.

This marks a significant increase in financial damage compared to 2024, despite a reduction in the number of incidents.

Crypto saw close to 200 security incidents in 2025

SlowMist’s 2025 Blockchain Security & AML Annual Report reveals a concerning landscape for the cryptocurrency industry.

In its latest assessment, the platform documents around 200 blockchain security incidents throughout the year.

🚨 SlowMist just released the 2025 Blockchain Security & AML Annual Report!
1/ In 2025, blockchain faced growing complexity: professionalized hacker groups (including DPRK-linked), DeFi exploits, RaaS/MaaS attacks, and evolving underground money laundering. Regulatory

2:26 pm · 30 Dec 2025

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These incidents collectively resulted in losses amounting to over $2.93 billion.

Notably, this figure represents a 46% year-over-year increase in financial losses compared to 2024, despite a decline in the total number of incidents from 410 to about 200.

This discrepancy highlights the growing severity of individual attacks, with hackers employing more sophisticated techniques to maximise their gains.

Threat actors, particularly those affiliated with North Korea (DPRK), have played a significant role in driving these losses.

Ethereum, BNB Chain, and Solana top incident chart

While hackers and other threat actors impacted blockchain ecosystems across the industry, top three networks were Ethereum, BNB Chain and Solana.

Ethereum emerged as the most targeted platform, suffering the highest losses of $254 million across 37 incidents.

Binance’s BNB Chain (BSC) followed with $21.9 million in losses from 26 incidents, while Solana recorded $17.45 million in damages from 11 incidents.

The report delineates a stark contrast between decentralised and centralised platforms.

Decentralised Finance (DeFi) saw about 126 incidents, accounting for 63% of the total incidents year-to-date and resulting in $649 million in losses.

In contrast, centralised exchanges (CEX) experienced only 12 incidents. However, the sector incurred a staggering $1.8 billion in losses, largely driven by a single $1.46 billion incident at Bybit.

Bybit hack biggest in 2025. Source: SlowMist

That Bybit hack shook crypto in early 2025.

Notably, the disparity between DeFi and CEX losses highlights the vulnerability of centralised platforms to high-impact attacks.

Scam techniques in 2025

The SlowMist report also sheds light on the evolving scam techniques that fueled these incidents in 2025.

Phishing attacks have grown more complex. Researchers say attackers utilise multi-stage hybrid strategies that manipulate users into facilitating their own thefts.

Examples are incidents that arise from fake safeguards.

Social engineering tactics have advanced with AI-assisted interactions, including identity spoofing and emotional manipulation.

Meanwhile, supply chain attacks and malicious browser extensions have targeted downstream users with malicious code.

Additionally, AI-powered fraud and sophisticated Ponzi schemes disguised as blockchain finance platforms have lowered the barrier to entry for cybercriminals.

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