Beyond immediate losses, attacks often lead to prolonged downtime, liquidity shocks and confidence erosion, as interconnected DeFi systems amplify the impact across markets. A new security report from Immunefi finds that crypto hacks continue at a steady pace while losses are becoming more concentrated in a small number of massive exploits. Analyzing 425 publicly known incidents between 2021 and 2025, the report estimates that the average hack now results in about $25 million in stolen funds. In 2024 and 2025 alone, 191 hacks led to $4.67 billion in losses, with just five incidents accounting for 62% of the total. Despite representing fewer incidents, centralized exchange breaches drove the majority of losses. Twenty exchange hacks accounted for roughly $2.55 billion, or about 55% of the total, reflecting how large pools of user funds are concentrated behind fewer points of failure. Read more