Hacked crypto tokens drop 61% on average and rarely recover, Immune report says

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.

Token markets also appear to be reacting more harshly 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 over that period.

Amador said the long-term impact of exploits often extends well beyond the initial loss:

The stolen funds are only the first layer of damage. What follows is often more destructive: sustained token price suppression, reduced treasury capacity, leadership disruption, lost development time, and erosion of user trust.

The report also highlighted how interconnected DeFi systems can amplify the fallout from a single incident, with failures cascading across lending, collateral and liquidity networks.

One example involved the collapse of Elixir’s deUSD stablecoin in November 2025. Elixir had parked roughly 65% of deUSD’s collateral with Stream Finance, which disclosed a $93 million loss from an external fund manager. As Stream’s stablecoin xUSD fell 77%, deUSD’s backing deteriorated, redemptions halted and panic selling hit Curve pools, ultimately pushing deUSD down more than 97%.