From Bybit to GMX: The 10 biggest crypto hacks of 2025
In 2025, the cryptocurrency landscape witnessed a staggering $2.2 billion lost to hacks, maintaining a consistent trajectory with the previous year’s figures. Cybercriminals have increasingly targeted various blockchain platforms, capitalizing on numerous vulnerabilities that emerged within the decentralized finance (DeFi) space.
Among the most significant incidents was the hack of Bybit, a prominent cryptocurrency exchange, which suffered substantial losses due to a sophisticated attack that exploited a flaw in its smart contract. This breach not only raised concerns among investors but also prompted a renewed focus on security measures within the exchange sector.
Another notable incident involved GMX, a decentralized exchange that fell victim to a series of attacks that underlined the risks associated with DeFi protocols. Security researchers reported that the attackers exploited loopholes in the platform’s liquidity pools, leading to a considerable financial impact and affecting user trust.
The year also saw a surge in smaller-scale hacks across various platforms, each adding to the grim total. These incidents often involved phishing schemes and code vulnerabilities, where attackers utilized social engineering tactics to deceive users and access their digital assets.
Regulatory bodies and security firms are now calling for enhanced protective measures across the industry. As the frequency and sophistication of these attacks increase, many are advocating for better auditing practices and the implementation of robust security protocols to safeguard user funds.
Despite the ongoing challenges, the cryptocurrency community continues to innovate and adapt. Many projects are investing in security infrastructure and educating users on best practices to mitigate risks. However, as long as vulnerabilities exist, the threat of cyberattacks remains a pressing concern for the future of digital assets.
As 2025 closes, the overall sentiment among crypto enthusiasts is a mixture of caution and resilience, with a shared hope that advancements in security will eventually outpace the evolving tactics of cybercriminals.
Key Takeaways
- Crypto thefts reached $2.2 billion in 2025, matching the losses from the previous year.
- Bybit and GMX were among the most significant platforms targeted by hackers, highlighting vulnerabilities in both centralized and decentralized finance.
- The rise in cyberattacks has prompted calls for improved security measures and user education within the crypto industry.
- Despite the risks, the crypto community is focused on innovation and enhancing security to protect digital assets.
This article was inspired by reporting from The Block. · Report an issue