$2.5B Vanished in Crypto Hacks — Could Your Wallet Be the Next Target?

Ever wonder how quickly a careless click can turn millions of dollars into thin air? Well, one crypto whale just learned that the hard way—losing nearly $7 million to a phishing scam. It’s astonishing how a simple signature to the wrong link handed over access to over $4.3 million in staked Ethereum and more than $2.2 million in wrapped Bitcoin, proving once again that in the wild world of crypto, vigilance isn’t just a virtue—it’s survival. And if you think this was a one-off disaster, think again. Crypto hacks surged by 15% in August alone, pushing total stolen funds beyond a staggering $2.5 billion. The question isn’t just “what happened?” but rather, how can savvy investors shield themselves in an environment where even the biggest players can fall prey to cunning attackers laundering their gains through complex webs like Tornado Cash? Stick around, we’ll unpack this chaotic surge in crypto crime—and why double-checking your signature requests might just be the small step that saves your millions. LEARN MORE

Key Takeaways

What happened?

A whale lost nearly $7 million worth of crypto assets from a phishing scam

What’s the state of crypto hacks in 2025?

Crypto hacks increased 15% in August, bringing lost funds to over $2.5 billion

A large crypto player lost $6.8 million after signing signatures to the wrong links, commonly known as phishing scams. 

With the trick, the victim unknowingly gave access to over $4.3 million of staked Ethereum [ETH] and over $2.2 million of wrapped Bitcoin [BTC] to the attacker. 

The hacker began laundering the funds immediately, with analysts picking the trail across multiple addresses and platforms like Tornado Cash. 

Source: Reddit

Crypto hacks hit $2.5B in 2025

The above phishing attack always happens when the victim interacts with a malicious website or smart contract. They are one of the common attacks deployed by hackers that have risen sharply in Q3.  

In fact, in August, about $163 million worth of crypto assets were stolen, a 15% increase from July, according to Web3 security firm Peckshield. The firm noted, 

“In August 2025, ~16 major crypto exploits were recorded, resulting in total losses of $163 million—a 15% increase from July’s $142M.”

Overall, crypto hacks have hit $2.5 billion, with the $1.5 billion Bybit exploit in February being the largest. 

According to Web3 security experts, one of the best ways to avoid most of these hacks, especially phishing scams, is to double-check the signature requests to ensure they are legitimate.