According to the latest "2025 Security Report" released by cybersecurity organization Hacken, the security situation in the cryptocurrency industry in 2025 is not optimistic. Web3 platforms suffered a total loss of $4 billion, a 37% increase from $2.85 billion in 2024, which is a concerning growth rate.

What is even more worrying is that over half of these losses stem from organized attacks by North Korean hackers. A single hacking incident at a well-known exchange in February resulted in approximately $1.5 billion in losses, highlighting the severity of the issue.

Looking at the annual incident statistics, there were a total of 155 major security events. The losses were not evenly distributed — the first quarter alone saw peaks exceeding $2 billion, then decreasing each quarter, falling back to about $350 million in the fourth quarter. This trend reflects an increased security awareness in the industry following these major incidents.

Interestingly, the largest losses were not caused by technical vulnerabilities. Data shows that access control failures and operational security breakdowns accounted for the majority, causing $2.12 billion in damages, representing 54%. In comparison, smart contract vulnerabilities resulted in only $512 million in losses. This indicates that the root causes are often simpler and more frustrating — weak private keys, compromised signers, and irregular offboarding processes. These seemingly basic operational oversights are actually the easiest targets for hackers.

This data serves as a wake-up call: cryptocurrency exchanges cannot rely solely on technical defenses; operational security must be elevated to the same level. The industry is calling for the establishment of mandatory regulatory standards — only through systematic security standards and procedures can such preventable losses be truly reduced.