From Bybit to Coinbase: 2025's Biggest Crypto Hacks and Breaches
In 2025, crypto hacks reached a record high, with over $2.72 billion stolen. The year began with North Korean hackers breaching centralized exchange Bybit, resulting in a $1.4–$1.5 billion loss—despite supposed use of secure cold, multi-signature wallets. The hack was traced to a compromised developer laptop. Organized and professionalized attacks increased throughout the year. North Korean IT worker schemes further enhanced the operational sophistication of these cybercrimes. In May, Coinbase suffered a data breach when criminals demanded $20 million in Bitcoin for stolen customer details, though no funds or private keys were lost. The incident could cost Coinbase up to $400 million to address. Decentralized finance (DeFi) protocols also remained major targets. In May, Cetus Protocol on Sui lost around $162 million due to a smart contract exploit, although most funds were recovered. Iran’s Nobitex exchange lost $90 million to a pro-Israeli hacker group in June, and UPCX protocol saw $70 million stolen in April after a private key was compromised. Other significant breaches included BtcTurk’s $48 million loss in August and Upbit’s $36 million Solana wallet exploit in November, both with North Korean involvement suspected.
