The world of cryptocurrency faced an unprecedented wave of breaches in 2025, with hackers stealing a record-breaking total of $2.72 billion. From centralized exchanges to decentralized finance (DeFi) platforms, no corner of the market was left untouched. Read on as we uncover the major crypto breaches of 2025 and what they mean for investors and the industry’s future.
Crypto Hacks in 2025: A Record-Breaking Year
Despite subdued market conditions and declining prices, cybercriminals targeted crypto platforms with growing sophistication in 2025. According to TRM Labs, attacks became “faster, better coordinated, and easier to scale than ever before.” These accomplishments highlight significant vulnerabilities in even the most secure systems.
The Bybit Exploit: $1.5 Billion Gone in Seconds
In February, the industry was shocked by one of the largest crypto hacks in history. North Korean hackers allegedly infiltrated crypto exchange Bybit, stealing between $1.4 billion and $1.5 billion in Ethereum and associated tokens. Despite Bybit’s use of highly secure multi-signature wallets, the breach occurred through a compromised developer workstation.
This event raised questions about the industry’s dependence on human security protocols and emphasized the importance of enhancing digital asset protection measures.
Coinbase’s Data Breach Exposes New Threats
In May, the U.S.’s leading crypto exchange, Coinbase, made headlines with a data breach that left sensitive customer information vulnerable. Hackers reportedly demanded $20 million in Bitcoin as ransom. While no funds or private keys were compromised, the breach’s impact cost Coinbase as much as $400 million in damages. This hack highlighted vulnerabilities beyond financial theft, including data manipulation and external threats.
If you store your crypto on exchanges, consider using a hardware wallet. For example, the Ledger Nano X is a reliable option that enhances personal asset security.
DeFi Platforms in the Crosshairs
While centralized exchanges faced significant challenges, decentralized finance (DeFi) protocols were also key targets. Sui’s leading decentralized exchange, Cetus Protocol, suffered a $162 million loss in May due to vulnerabilities in its smart contracts. Similarly, the open-source UPCX platform was drained of $70 million in April, owing to a compromised private key, leading to sharp declines in native token values.
Geopolitical Motivations: Nobitex, Upbit, and More
Some breaches had strong geopolitical implications. A pro-Israeli hacking group hit Iran’s largest crypto exchange, Nobitex, in June, stealing $90 million amid allegations of ties to the Islamic Revolutionary Guard Corps. Meanwhile, North Korean state-sponsored hackers were suspected of targeting South Korea’s Upbit, extracting $36 million from their Solana hot wallets in November.
Lessons Learned: Securing a Safer Crypto Future
The rapid evolution of cyberattacks in 2025 underscores a critical need for reinforcing security in the cryptocurrency landscape. Platforms must adopt multi-layered defenses, including end-to-end encryption, regular security audits, and employee awareness programs. For users, opting for hardware wallets like the Ledger Nano X can significantly reduce the risk of losing assets during such breaches.
As the industry learns from 2025’s challenges, robust innovation, enhanced security tools, and proactive regulatory measures will play a vital role in defending against the next wave of cyber threats.
