At a Glance
- $4.04 billion was lost to crypto scams and hacks in 2025, a 34% rise year over year.
- Scam losses alone leapt 64%, fueled by phishing and impersonation aimed at wealthy targets.
- Centralized services absorbed 75% of stolen funds, up from 46% in 2024.
- Why it matters: The shift to social engineering and centralized attacks signals greater risk for everyday exchange users.
Crypto criminals stole $4.04 billion in 2025, with losses from scams climbing twice as fast as those from technical hacks, according to blockchain security firm PeckShield.
Scams Outpace Hacks in Growth
Scam losses reached $1.37 billion, a 64% jump from the prior year. Direct protocol hacks totaled $2.67 billion, pushing combined losses up 34%.
PeckShield notes that phishing and impersonation campaigns zeroed in on high-net-worth individuals, driving larger per-case losses even as exploit counts stayed relatively flat.
Centralized Platforms Under Siege
Attackers pivoted toward centralized exchanges and large organizations, which claimed 75% of stolen value in 2025 versus 46% in 2024.
Centralized targets now present a richer attack surface, PeckShield concludes, as a single breach can yield nine-figure paydays.
Record Hack Raises the Bar
February delivered the largest monthly loss on record after a $1.51 billion breach at Bybit. The FBI attributed the attack to North Korea’s Lazarus Group, which used malware-laden social engineering to access the exchange’s cold wallets.
The incident now ranks as the biggest hack in crypto history, eclipsing previous DeFi exploits.
Chains Split on Risk Profile
- BNB Chain recorded the highest number of incidents.
- Ethereum posted the greatest dollar losses, reflecting its concentration of high-value targets.
Laundering Patterns Evolve
Tracked laundering tied to major exploits hit $1.49 billion, up 15% year over year. PeckShield links the rise to larger sums taken per heist, making individual laundering attempts more lucrative.
Recovery Efforts Lag
Authorities and security firms recovered or froze $334.9 million in stolen crypto, down from $488.5 million in 2024. The lower success rate underscores the growing sophistication and speed of criminal operations.
Mixed Start to 2026
December 2025 offered a brief respite: exploit losses fell to $76 million, down 60% from November. Yet January 9 saw Truebit lose $26.5 million in the first major DeFi hack of the new year.
Precision Over Opportunism
Together, the data support PeckShield’s view that 2025 marked a shift from random exploits to precision targeting, where social engineering and centralized access played dominant roles.
Key Takeaways
- Scams are accelerating fastest, led by sophisticated phishing.
- Centralized services now face the bulk of attacks.
- Recovery is harder: stolen sums are larger and criminals move funds faster.
- Users should verify communications and secure accounts on centralized platforms to mitigate risk.
