The cryptocurrency industry suffered losses of $306.7 million due to hacks during the third quarter of 2025, according to the newly released Finbold Q3 2025 Cryptocurrency Market Report, drawing on data from blockchain security specialist SlowMist.
The Q3 figure represents a continued decline in quarterly losses, dropping from $465 million in Q2 and from the $1.77 billion recorded in Q1, which was largely driven by the $1.5 billion Bybit breach. Despite the downward trend, the cumulative losses for 2025 have already reached $2.55 billion, making this year one of the most damaging on record for the sector.
Commenting on the report’s findings, Jordan Major, Finbold senior analyst and co-author of the report, said:
“The decline in quarterly losses is encouraging, but investors should not confuse short-term relief with systemic resilience. A single exploit still has the capacity to erase billions, and the Bybit breach earlier this year proves that point. Security is no longer an optional feature for exchanges and protocols; it’s the foundation of trust in the industry.”
Diana Paluteder, Finbold head of content and co-author of the report, added:
“What stands out this year is the concentration of risk. One major incident accounted for the vast majority of Q1 losses, while subsequent quarters have been defined by smaller but persistent breaches. This shows that the sector continues to face layered vulnerabilities across custody, DeFi contracts, and third-party integrations, even as defences improve.”
With 2025 now entering its final quarter, the report concludes that the cryptocurrency industry faces a crucial test: whether it can sustain the decline in quarterly losses or if another large-scale attack will once again alter the trend.
