$2.1 Billion Vanished: Crypto Hacks Surge in 2025, TRM Labs Reports

These incidents made up over 80% of stolen funds and were far more damaging than other types of hacks.

These types of attacks focus on areas like private key access or weaknesses in front-end tools. This can include stealing seed phrases or changing how a crypto site appears to users.

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TRM Labs explained that such hacks often succeed because they exploit both technical flaws and people’s trust.

Another method used by attackers was to break into smart contracts. This involved tactics like flash loans or triggering bugs that let them take funds or interfere with how systems are supposed to work. These protocol-based attacks made up 12% of the total losses this year.

A major part of the losses came from North Korea’s theft of $1.5 billion from Bybit, a Dubai-based exchange, in February. That incident made up nearly 70% of the year’s total. It also pushed the average loss per attack to around $30 million.

However, even without the Bybit $2.32B case, other months like January, April, May, and June each saw over $100 million in stolen crypto.

Some attacks were likely tied to political goals. On June 18, a group known as Gonjeshke Darande, which has been linked to Israel, took $100 from Iran’s largest exchange, Nobitex. How did it happen? Read the full story.