Crypto thefts hit $4.04 billion in 2025, led by Bybit hack

Beincrypto reports that cryptocurrency theft and scams jumped to a record $4.04 billion in 2025, according to PeckShield’s annual security report.

PeckShield wrote that the Bybit hack, linked to North Korea’s Lazarus Group, was the year’s largest single theft at over $1.4 billion. The report found exploits accounted for 66% of total losses—about $2.67 billion—while scams cost $1.37 billion, a 64.2% increase. PeckShield also noted the 2025 total represents a 34.2% rise from the $3.01 billion stolen in 2024 and roughly a 55% increase from 2023’s $2.61 billion.

PeckShield wrote that the surge reflected systemic vulnerabilities in centralized infrastructure and a strategic shift toward targeted social engineering; phishing and impersonation made up 12% of losses. Recovery efforts lagged, with only about $334.9 million recovered or frozen in 2025 versus $488.5 million in 2024.

Monthly data showed February was the worst month with $1.77 billion lost—largely due to the Bybit hack—while October recorded about $21.6 million in losses. The report said these trends appear to be carrying into 2026, noting that 13 days into the year the industry suffered the Truebit exploit and a social engineering attack targeting users of the investment platform Betterment.

Key Topics

Crypto, Bybit, Lazarus Group, Peckshield, Bybit Hack, Social Engineering