From Bybit to GMX: The 10 biggest crypto hacks of 2025

The year 2025 saw cryptocurrency security suffer losses totaling an estimated $2.2 billion across the ten largest incidents, matching 2024's total but with damage more concentrated. The largest theft ever recorded was Bybit's $1.4 billion breach in February, resulting from a likely signing-key compromise draining 401,000 ETH from multisig wallets. Other major incidents included Cetus ($223 million) due to spoofed tokens manipulating DEX liquidity, and Balancer V2 ($128 million) exploited via a rounding-error bug in composable stable pools. Centralized exchanges like Bitget ($100 million), Phemex ($85 million), Nobitex ($80 million), BtcTurk ($48 million), and CoinDCX ($44.2 million) also suffered significant losses, often due to private key compromises or server breaches. DeFi protocols like Infini ($49.5 million) and GMX ($42 million) were hit by flaws in smart contract access controls and reentrancy vulnerabilities, respectively. Exchanges generally pledged to cover user losses while working to rebuild infrastructure and enhance security.

(Source：The Block)