In 2025, crypto hackers have changed their strategy — instead of attacking code flaws, they are now targeting people directly. According to Web3 cybersecurity firm CertiK, attackers are shifting focus from smart contract vulnerabilities to exploiting human behavior.
Phishing attacks in the crypto world often involve tricking users into clicking fake links that lead to the theft of sensitive data, especially wallet private keys. These are classic examples of social engineering, where manipulation—not hacking—is the main tool.
So far this year, over $2.1 billion has been stolen in crypto-related incidents. Most of these losses came from phishing scams and wallet breaches, CertiK reported
According to Ronghui Gu, co-founder of CertiK, this shift shows that hackers are now targeting the human element instead of technical vulnerabilities. Speaking on Cointelegraph’s Chain Reaction show on June 2, Gu mentioned that the trend reflects changing attack strategies in the crypto space.
Just last month, a major social engineering scam resulted in the theft of $330.7 million in Bitcoin from the wallet of an elderly U.S. citizen, reported on April 30.
Social engineering tricks like “address poisoning” don’t even need technical hacks — instead, they rely on deceiving users into sending crypto to fake wallet addresses that look similar to real ones.
Gu added that while these scams are alarming, they may also be a sign that blockchain protocols are becoming more secure. As he put it, “Hackers go after the weakest link,” and right now, that’s often the user, not the code.
To prevent future incidents, Gu emphasized the need for improved wallet security, better access controls, live transaction monitoring, and simulation tools to spot red flags before funds are lost.
A big chunk of 2025’s losses—about $1.4 billion—came from the Bybit exchange hack on February 21, carried out by the North Korean Lazarus Group. This one event made up more than 60% of all crypto losses in 2025 alone.
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For comparison, in 2024, hackers stole $2.3 billion in total across 760 on-chain attacks, according to CertiK’s latest Hack3d report.
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