Cryptocurrency Thefts in 2025: The Scale of a Digital Epidemic

In 2025, cybercrime in the cryptocurrency industry reached record-breaking levels. Hackers increasingly exploit not only technical vulnerabilities but also the human factor—psychological pressure, social engineering, and mistakes in organizational processes. This has turned the theft of digital assets into a true challenge for the entire industry.

Historical Context: How Attacks Evolved from 2017 to 2025

In the early crypto era (2017–2018), the main threats were technical: exchange hacks via insecure APIs, flaws in smart contract code, and weaknesses in hot wallets. For example, in 2018 the Japanese exchange Coincheck lost $534 million due to an unprotected API. By 2020–2021, the focus shifted to DeFi: exploits in smart contracts and errors in cross-chain bridges. However, as infrastructure protection improved, criminals turned to people. In 2023–2024, phishing, manipulation, and insider activity became the main threats. By 2025, social engineering and attacks on access management systems became the hackers’ weapon of choice.

The Scale of Thefts in 2025

According to Hacken, in just the first six months of 2025, approximately $3.1 billion was stolen—already surpassing the entire figure for 2024. This indicates that the pace of attacks is growing exponentially. For comparison: in the same period of 2022, losses totaled $1.2 billion, meaning the three-year increase exceeded 250%.

• Access management systеm attacks (58%): $1.83 billion was stolen. This included multi-signature wallet breaches, bypassing two-factor authentication, and insider involvement. The key issue here is human error: a single leaked seed phrase or an accidental approval of a fake transaction can result in millions being stolen.
• Phishing and social engineering (19%): Around $600 million was stolen through fake emails, cloned websites, and messenger scams. AI-driven phishing attacks in 2025 created messages so convincing that even experienced users were deceived.
• Rug pulls and exit scams (10%): About $300 million was stolen through short-lived projects. Developers hyped their tokens, attracted millions in investments, and then disappeared, leaving investors with worthless assets.
• Smart contract vulnerabilities (8%): $263 million was lost due to errors in DeFi protocols. Smart contract code is complex and often poorly audited, and attacks strike instantly before developers can react.

Major Crypto Incidents of 2025

• Bybit (February 21): A $1.46 billion loss became the largest theft of the year. Hackers used a multi-signature wallet interface spoofing attack: users saw a “valid” address, but funds were redirected to the attackers. This incident demonstrated that even cold wallets with multi-signatures cannot provide absolute security.
• Private investor in the U.S. (April 28): Hackers stole 3,520 BTC (~$330 million) through social engineering. The stolen funds were quickly converted into altcoins, triggering a 50% price surge. This highlighted the vulnerability of even large private investors.
• Cetus: A flaw in the AMM algorithm of a decentralized exchange allowed hackers to drain $223 million. The case showed that DeFi protocols remain at risk even after audits.

Types of Attacks: What Makes Them Different

1. Phishing: Hackers create fake exchange or wallet sites to trick users into revealing keys. In 2025, AI made these attacks hyper-personalized—mimicking writing style, activity times, and even past transactions.
2. Rug pulls: Teams launch projects promising huge returns, attract funds, then disappear. These scams often disguise themselves as NFT or DeFi ventures.
3. Smart contract exploits: Even one line of faulty code can allow attackers to drain millions. Poorly audited contracts remain an easy target.
4. Insider attacks: Employees at exchanges and crypto companies may intentionally leak keys, or fall victim to coercion and blackmail. These are the hardest to trace.
5. Social engineering: Criminals manipulate employees or investors by posing as executives, demanding “urgent transaction approvals,” or exploiting trust.

Why Hackers Became More Successful

The main reason is the shift from exploiting technical weaknesses to targeting the human factor. Breaking code is harder than deceiving people. Hackers increasingly rely on insiders to gain access from within organizations.

Artificial intelligence has also amplified the threat. In 2023, AI-driven attacks were rare; by 2025, they became the norm. AI was used to:

• craft phishing emails indistinguishable from legitimate ones,
• bypass CAPTCHA and anti-bot defenses,
• automatically scan smart contracts for vulnerabilities,
• coordinate real-time attacks on exchange and DeFi APIs.

DeFi and Cross-Chain Bridge Vulnerabilities

Decentralized finance remains one of the top hacker targets. Cross-chain bridges, which link blockchains and hold massive liquidity reserves, became the industry’s “weakest link” in 2025. Flaws in asset locking and issuance logic allowed attackers to mint tokens without backing or withdraw assets directly.

The architecture of these bridges is another risk factor: they often involve multiple smart contracts, oracles, and intermediaries, increasing the attack surface. Even thorough audits cannot fully eliminate the chance of errors. As a result, attackers increasingly target bridges, knowing they can seize hundreds of millions at once.

In 2025, several incidents were recorded where hackers exploited flaws in transaction verification logic across networks. This enabled them to withdraw assets without proper deposits or carry out replay attacks. Such exploits not only damage individual protocols but also threaten the broader DeFi ecosystem, which relies on interconnected blockchains.

Thus, in 2025 DeFi became a “high-risk zone”: the larger the capitalization and liquidity of a protocol, the more likely it was to become a hacker target. Without fundamental architectural improvements and additional layers of verification, these problems will persist in the future.

Future of Defense: What Lies Ahead

Cyber threats will continue to escalate as crypto market capitalization grows. In 2026, the key defense trends will likely inсlude:

• AI audits: automated vulnerability scanning in smart contracts,
• Asset insurance: services that reimburse investor losses,
• Zero-knowledge technologies: zk-proof authentication and data protection,
• AI as defense: machine learning to predict and block attacks in real-time.

Conclusion

2025 proved that cold wallets, multi-signature systems, and smart contracts no longer guarantee complete safety. The weakest link remains the human factor. The future of crypto cybersecurity lies not only in advanced technologies but also in cultivating a culture of security, discipline, and continuous education.