In 2025, three significant incidents were responsible for the majority of cryptocurrency losses, whereas enhanced security measures implemented across decentralised finance protocols (DeFi) largely deterred malicious actors, according to Chainalysis.
This year, crypto hackers targeted big crypto companies and personal crypto wallets. As a result, there were $3.4 billion in bitcoin losses in 2025, the most since 2022.
A Chainalysis research released on Thursday said that three hacks in 2025, including the $1.4 billion hack of the crypto exchange Bybit, caused 69% of all losses from January to early December. The biggest attacks were a thousand times more than the average attack.
It’s hard to say if things will get worse in 2026 because hacks are so random one or two big hacks can break records for a year. But I can say that this trend of big game hunting seems to be continuing, and there’s no reason to think hacks will go down next year.
Wallets and private keys are popular targets for hackers
In 2022, they made up 7.3% of the total value taken, and in 2024, they made up 44%. This year, it’s 20%, but without the Bybit hack, it would be 37%.
The total amount stolen from individual breaches, on the other hand, went down from $1.5 billion in 2024 to $713 million this year, even though the number of hacks almost tripled from 2022.
Fierman went on to say, “These amounts are smaller because personal wallets usually hold less money than large exchange wallets, which pool money from many users.”
DeFi protocols implement stronger security features.
According to the analytics website DefiLlama, the total locked value of DeFi is about $119 billion. This is more than double what it was at its lowest point in 2023, when it fell below $40 billion.
Chainalysis, on the other hand, noted that the rise in DeFi marketplaces hasn’t led to a rise in hacks, which is “a clear divergence from historical trends.”
In the past, hackers were more likely to target parts of the sector with significant financial resources. Chainalysis, on the other hand, says that DeFi protocols are putting better security mechanisms in place, and attackers are now targeting wallets and centralized services instead.
In 2025, North Korean cyber groups stole $2.02 billion in cryptocurrencies, which is $681 million more than the total stolen in 2024. They did this by putting IT personnel into projects.
Chainalysis says that North Korean hackers carried out fewer but far more devastating assaults in 2025. This is because they have become more sophisticated and patient as they try to get bigger scores.