Cybercriminals stole a record total of $2.7 billion

 in cryptocurrency in 2025, driven primarily by a massive $1.4 billion data breach at the Bybit exchange, which is considered the largest crypto heist in history. The Bybit hack alone accounted for nearly half of the year's total losses, surpassing previous annual records for crypto-related thefts. 

Financial Overview

Data from blockchain-monitoring firms indicates a persistent upward trend in crypto theft, with North Korean state-linked hackers being the primary perpetrators, responsible for at least $2 billion of the stolen funds in 2025. 

Year Total Stolen (Billions USD)2023$2.0 billion2024$2.2 billion2025$2.7 billion

Key Insights

Record-Breaking Single Incident: The February 2025 Bybit attack was the largest single crypto theft ever, surpassing previous major hacks like the Ronin Network and Poly Network breaches in 2022.

Attack Method: The hackers exploited a vulnerability in a third-party service's user interface, injecting malicious JavaScript to manipulate transaction approvals from Bybit's cold wallet, allowing them to steal over 400,000 ETH and other assets.

Perpetrators and Motive: The FBI and blockchain analysts have attributed the attack to the North Korean state-sponsored Lazarus Group, with the stolen funds reportedly used to finance North Korea's sanctioned nuclear weapons program.

Industry Response: Bybit assured users that their assets were safe and that the exchange remained solvent, covering losses with internal funds and support from partners. The incident has, however, led to increased scrutiny and calls for stronger cybersecurity standards and regulatory oversight in the crypto industry. #USCryptoStakingTaxReview