Crypto theft losses hit a new peak in 2025, surpassing $4.04 billion, driven by increased hacks and scams. Losses from hacks rose 24.2% year-on-year to $2.67 billion, while scam-related losses surged 64.2% to $1.37 billion. Recovery efforts yielded $334.9 million frozen or recovered funds, down from $488.5 million in 2024.