Losses from cryptocurrency crime have crossed $2.3 billion in 2025, according to data from CryptoPresales.com. Criminal groups and hackers have already stolen $2.34 billion from platforms and investors, which is 35% higher than last year. That makes this year the 3rd costliest on record, behind 2021 at $2.73 billion and 2022 at $3.54 billion.
The total number of cases has gone down, but the size of each theft is much larger. There have been 83 incidents so far, the lowest figure since 2020. CryptoPresales.com said nearly 60% of all stolen funds this year came from one case.
That case was the attack on Dubai-based exchange Bybit in February. Hackers drained $1.46 billion from Ethereum wallets. Cybersecurity researchers linked the theft to North Korea’s Lazarus Group, pointing to its scale and precision. The report called it the largest crypto crime on record.
How Have Scam Tactics Changed?
The scamming has gone from it being many smaller scams to fewer but much larger heists. In 2023 there were 283 cases that cost victims $1.74 billion. In 2024 the count dropped to 187, with almost the same losses. This year’s 83 incidents are far fewer, but the average amount stolen per attack has soared.
Since Bitcoin began, over $15 billion has been stolen across roughly 1,100 cases. Nearly 80% of those losses happened in the last 5 years. CryptoPresales.com added that if all stolen tokens had been held instead of liquidated, they would be worth more than $50 billion today.
Governments have tightened oversight and blockchain analysts are tracing funds more effectively. But criminal groups keep finding weak points in exchanges and decentralised finance protocols. That arms race between defense and crime is leaving investors exposed.
More from News
- Could Google Remove The AI Search Feature?
- Neon Goes Dark (Ironically), Exposing Users’ Private Data To Other Users
- How Is The UK Accelerating The Use Of AI In The NHS?
- What Is ChatGPT Pulse And How Does It Work?
- PayPal Goes All In On MEA: What $100M Means For Startups And Entrepreneurs
- Will Apple Stop Selling Its Products In Europe?
- How Is The UK Government Investing In Semiconductors?
- How Much Did The Co-Op Cyberattack Actually Cost?
What Scams Are Targeting UK Consumers?
The Financial Conduct Authority has reported a surge in criminals impersonating the regulator itself. In the first half of 2025, there were 4,465 reports of fake FCA scams made to its helpline. Of those, 480 victims lost money. Almost two thirds of the reports came from people aged 56 and older.
The scams often claim the FCA has recovered funds from a crypto wallet illegally opened in the victim’s name. Others target those already hit by loan scams, saying the FCA can recover their lost money, only to trick them into sending even more.
A different scam is to send emails telling people that creditors have filed a County Court Judgement against them and they must pay the FCA.
Another trend is known as pig butchering, where criminals build trust through fake relationships, usually romantic, and then trick victims into investing. Once the money is gone, the scammers return pretending to be the FCA, offering to “recover” funds in exchange for more payments.
What Advice Is Being Given To Consumers?
Steve Smart, joint executive director of enforcement and market oversight at the FCA, said that criminals are ruthless and the regulator will never ask for bank details, PINs or transfers of money. He advised anyone in doubt to contact the FCA directly through its website.
The FCA’s tips are pretty easy to follow…
1. Be wary of unprompted calls, emails, texts or WhatsApp messages.
2. Never share sensitive details such as passwords or PINs.
3. Anyone who suspects they have been targeted should contact Action Fraud, Police Scotland or Advice Direct Scotland.
During the whole of 2024, the FCA received 10,379 reports of impersonation scams, with 991 people handing over money. The figures for 2025 so far show the problem is continuing, and consumers are still being drawn into fake recovery schemes.
