A security report from Immunefi analyzing 425 publicly known incidents between 2021 and 2025 estimates the average hack now results in roughly $25 million in stolen funds. In 2024 and 2025, 191 hacks produced $4.67 billion in total losses, with just five incidents responsible for 62% of that figure.
Centralized exchange breaches drove the majority of losses despite representing fewer incidents. Twenty exchange hacks accounted for approximately $2.55 billion, or 55% of the total, reflecting how large pools of user funds sit behind fewer points of failure.
Token markets are also reacting more severely to breaches. Across 82 hacked tokens tracked in the study, prices fell a median 61% within six months, with 83.9% remaining below their hack-day price. Immunefi CEO Mitchell Amador said breaches are now viewed as signals of deeper engineering and governance problems.
The report highlighted how interconnected DeFi systems can amplify fallout from a single incident. The collapse of Elixir‘s deUSD stablecoin in November 2025 illustrated this, as losses at partner Stream Finance triggered cascading failures that pushed deUSD down more than 97%.
Originally reported by CoinTelegraph.
