Crypto Hacks Shift Toward Social Engineering in 2025

Hackers in the crypto world are changing course, moving away from exploiting smart contracts and turning their focus toward tricking users directly.

According to Web3 security firm CertiK, the bulk of the $2.1 billion lost in crypto hacks so far in 2025 has come from phishing schemes and compromised wallets.

Instead of targeting protocol vulnerabilities, attackers are now using deceptive tactics to steal private keys and access user funds. CertiK co-founder Ronghui Gu told Cointelegraph during a June 2 X Spaces session that this shift highlights a growing trend: human behavior is now the primary attack surface, not the code.

Since 2024, phishing scams have become the most damaging attack vector, costing the industry over $1 billion across nearly 300 incidents. These scams often involve fake links and wallet address tricks, requiring little technical skill to execute.

The shift in tactics comes as DeFi protocols improve their security. Gu noted that attackers simply pivot to where defenses are weakest—now that smart contracts are harder to exploit, users themselves are the new target.

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One striking example is the $330.7 million Bitcoin theft from a U.S. victim earlier this year, which didn’t involve hacking but rather deception.

Gu stressed the need for stronger wallet protection, better access controls, and real-time monitoring to combat this evolving threat landscape.

The largest incident of the year remains the $1.4 billion Bybit hack in February, attributed to North Korea’s Lazarus Group. That single breach accounts for over 60% of total losses in 2025, approaching last year’s full-year total of $2.3 billion across 760 attacks.

As traditional code-based exploits decline, the crypto industry now faces a new challenge: securing the human layer.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.