Crypto hacks surge to $3.4B! OKX CEO flags THIS as a key threat

ambcryptoPublished on 2025-12-28Last updated on 2025-12-28

Abstract

Crypto hacks surged to $3.4 billion in 2025, with North Korean hackers responsible for over $2 billion of the losses. Recent victims include DeBot, which lost $255,000, and Trust Wallet, which lost $7 million. OKX CEO Star Xu identified DEX bots and custodial wallets as major new risk factors, noting that many require users to store private keys in the cloud. He emphasized that security and usability can coexist through institutional-grade controls and local authentication like passkeys. The report highlights a significant rise in personal wallet compromises and social engineering attacks, urging users to exercise increased vigilance and adopt stronger security practices.

Crypto hacks increased in late 2025, following a broader cooling off in trading activity and ‘bear market’ vibes. The latest victim, DeBot, an AI-based DeFi trading and insights tool, has lost $255,000 in a hack.

The platform said that their security breach was traced to an exploited server in Japan and promised to make the affected users whole.

“As of now, the confirmed losses stem from some users transferring funds back to old wallet addresses that have been deemed unsafe.”

Surprisingly, during the same Christmas week, Binance-backed Trust Wallet also reported a $7 million loss to a security breach linked to a Chrome extension.

OKX CEO’s solution to crypto hacks

Reacting to the rising number of crypto hacks, OKX CEO and founder Star Xu flagged DEX bots and custodial wallets as new risk factors and targets.

He noted that most current bots need users to upload private keys to cloud storage, which heightens security risks for wallets and associated funds. He pushed for new design solutions that can mitigate these risks.

“Security and usability are not mutually exclusive: Institutional-grade security and risk controls and user-controlled local authentication, such as passkeys.”

Crypto hacks hit $3.4B

Apart from Trust Wallet and DeBot, the Flow blockchain lost $3.9 million in assets this December. Overall, the total funds lost to breaches have hit $3.4 billion, according to the latest Chainalysis report.

The Bybit hack in early 2025 accounted for half of this year’s lost funds. Interestingly, personal wallet compromises, such as Trust Wallet breaches, have increased significantly over the past three years, per the report.

North Korean players accounted for the most stolen funds, over $2 billion out of the $3.4 billion in losses in 2025.

“In 2025, North Korean hackers stole at least $2.02 billion in cryptocurrency ($681 million more than 2024), representing a 51% increase year-over-year.”

The report added,

“This marks the most severe year on record for DPRK crypto theft in terms of value stolen, with DPRK attacks also accounting for a record 76% of all service compromises.”

One of the methods these threat actors deploy is to compromise an employee of the targeted platform, also known as social engineering.

Overall, the rising number of cases calls for increased vigilance, especially when handling personal crypto wallets or granting bots access to your personal data.

Double-check the wallet’s web link to avoid phishing attacks and opt for passkeys if possible.

Final Thoughts

Per the OKX CEO, the surge in crypto hacks was due to poor security design features in current DEX bots and wallet providers.
$3.4 billion was lost to crypto breaches in 2025, and the ‘bear market’ is exacerbating the issue.

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