Fintech Breach Statistics 2025: $7B Lost to Crypto Hacks & 27% of Global Breaches

• Fintech breaches are surging, finance made up 27% of global breaches in 2023, with an average cost of $5.90M per incident.
• Crypto platforms have lost over $7 billion to hacks: $3.7B (2022), $1.7B (2023), and $2.2B (2024).
• A SecurityScorecard study found 41.8% of fintech breaches originate from third-party vendors.
• Commonly exposed data: customer PII, including names, addresses, licenses, and financial transaction data.
• Notable cases: Revolut, Cash App, Ronin, Lemonade, Finastra, and Coinbase.
• Mitigation: prioritize penetration testing, continuous monitoring, and anti-phishing programs to stay ahead of attackers.

What are Fintech Breach Statistics?

Fintech breach statistics refers to data on cybersecurity incidents affecting financial technology companies, banks, digital wallets, crypto exchanges, insurtech, etc.. These stats include breach frequency, costs, data types exposed, and trends over time. In practical terms, we track how often fintech firms are attacked, what is stolen, and the financial impact. This matters because fintech handles sensitive financial data, so breaches can erode trust and incur huge losses.

Fintech breaches have spiked in recent years. For example, Kroll’s 2024 report found the financial sector jumped to 27% of all breaches handled in 2023 up from 19% in 2022. In other words, 1 in 4 breaches Kroll dealt with was in finance. This aligns with more publicized hacks crypto thefts, bank hacks, payment app incidents and suggests fintech is now the most attacked industry. As DeepStrike cybersecurity analysts note, attackers see fintech as high value targets rich data and direct money transfers.

These statistics are critical now because fintech is booming. Rapid digital adoption online banking, mobile wallets, crypto expands the attack surface. High profile incidents see below and regulatory fines underscore that breaches aren’t hypothetical they happen frequently and cost millions. Companies like DeepStrike often advise clients that knowing the stats helps prioritize security: e.g. focusing on third party risk or insider threats if those drive most breaches.

Key Breach Trends & Data 2020- 2025

Year by Year Breakdown

• 2020- 2021: Data is scarce, but early crypto hacks like Poly Network’s $611M exploit in 2021 hinted at trouble. Pandemic era shifts saw attackers probe banks and neobanks, but fintech wasn’t yet the top breach target. Kroll saw finance at 22% of breaches in 2021.
• 2022: Crypto platforms suffered the largest losses. Chainalysis reports $3.7B stolen from crypto exchanges/DeFi in 2022 more than any prior year. Notable fintech breaches included:
  • Revolut UK A payments/ATM glitch allowed $20M+ fraud and exposed 50,150 user records names, emails, etc.
  • Cash App USA Insider leak of investing account data: 8.2 million customers had names, account numbers, portfolio info exposed.
  • PayPal Credential stuffing attack on 35K accounts exposed names, addresses, SSNs.
• Regulators noted finance remained the 2nd most breached sector 19% of incidents in one Kroll study. Overall, fintech was in the crosshairs of both targeted hacks and insider exploits.
• 2023: Finance became the #1 breached industry. Kroll’s data breach outlook reports finance at 27% of breaches handled in 2023. Crypto thefts continued: Chainalysis recorded $1.7B stolen from crypto platforms down 54% from 2022’s $3.7B, including the Ronin Network hack $625M loss. Traditional fintech firms also suffered:
  • Finastra UK Early signs in Nov 2024 reported by some sources of a massive data leak 400 GB of bank client records.
  • Lemonade USA Auto insurtech glitch exposed 190K driver’s license numbers in 2025.
  • Coinbase USA In May 2025, bribed agents leaked limited customer data names, masked SSNs, balances; no funds stolen, but a $20M ransom demand ensued.
• DeepStrike consultants note 2023 saw social engineering surge Kroll saw BEC increase 21% YoY and supply chain attacks MOVEit, vendor hacks cause many fintech breaches.
• 2024: Crypto theft hit $2.2B up 21% from 2023, driven by large exchange hacks e.g. DMM Bitcoin $305M. Fintech continues seeing diverse attacks from ransomware on banks to data leaks at insurers e.g. Lemonade. SecurityScorecard finds 18.4% of top fintechs had public breaches, and nearly half of those had repeat incidents. In short, 2024 kept fintech in the breach headlines.
• 2025 so far: Early incidents include the Coinbase breach and regulatory fines e.g. PayPal’s $2M settlement in NY for 2022 phishing lapses. Security analysts expect continued pressure on fintech as regulators tighten oversight.

Global Distribution

Fintech breaches are global. The US leads with many incidents Coinbase, PayPal, Lemonade, Root, Cash App. The UK/EU have high profile cases Revolut, Finastra and strict GDPR fines. Asia Pacific sees frequent crypto exchange hacks Coincheck, WazirX, KuCoin, DPRK linked attacks accounted for $660M in 2023, $1.34B in 2024. Emerging markets are also targeted: data leaks affect millions in Brazil, India, etc. Essentially, any country with active digital finance is at risk.

What Data Gets Stolen?

Typical fintech breaches leak:

• Personal Data PII: Names, addresses, emails, phone numbers are common. Revolut’s 2022 breach leaked names, addresses and emails for 50K+ users. Lemonade’s 2025 leak exposed driver’s license numbers for 190K applicants.
• Financial Data: Account numbers, card details, balances. Example: Slim CD UK payment processor leaked 1.7M credit cards numbers, expiry dates. Cash App insiders took account IDs and portfolio info of 8.2M users.
• Credentials: Less common, but highly damaging. The PayPal attack obtained logins via credential stuffing affecting 35K accounts. In crypto, stolen private keys can instantly drain wallets e.g. Ronin, Wormhole.
• Specialized Data: Insurers often leak SSNs/licenses Root, Noblr, Lemonade have all paid fines for such leaks. Crypto breaches often don’t expose user data they just lose funds.

Financial Impact

The costs are staggering. Direct theft in crypto reached billions per year: Chainalysis tallies $3.7B stolen in 2022, $1.7B in 2023, $2.2B in 2024. Meanwhile, remediation costs for companies are millions. IBM’s Cost of a Data Breach reports show finance firms averaging $5.90M per breach versus $4.45M overall. And breaches linger: over 50% of breach costs occur after one year.

Beyond direct losses, regulators are punishing breaches. For example, PayPal paid $2.0M in 2025 for a 2022 credential stuffing failure, and insurers Root/Noblr paid $975K/$500K for quote data leaks affecting tens of thousands.

Customers also bear costs: identity theft, fraud, leaked crypto funds unsurprisingly, victims of Lazarus Group hacks have lost millions.

Finance sector breaches rose sharply 27% of Kroll cases in 2023. IBM says $5.90M average breach cost for finance. Chainalysis: $7+ billion in crypto stolen 2022- 2024. SecurityScorecard: 41.8% of fintech breaches via third parties. These figures highlight why fintech security is now mission critical.

Breach Incidents by Fintech Subsector

The table below compares example breaches across fintech industries:

This mix of examples illustrates that everyone is at risk. Crypto bridges see multi million thefts of coins. Challenger banks suffer both fraud and data leaks. Payment apps face insider leaks and credential stuffing. And even service providers like Finastra can spill sensitive files for top banks. The stolen data ranges from basic PII to massive sums of money.

Why Fintech Breaches Are Rising

Several factors fuel fintech breach stats:

• High Value Targets: Fintech holds both data and money, so criminals are incentivized. Attackers seek quick profit stealing crypto or funds or juicy PII for resale.
• Complex Attack Surface: Fintech often involves many systems: web/mobile apps, APIs, cloud services, third party integrations, IoT devices, ATMs, PoS terminals. This complexity creates vulnerabilities: in fact, SecurityScorecard finds the weakest spots are application security and exposed supply chain tools.
• Third Party Risk: Fintechs rely on vendors, cloud platforms, payment processors, data brokers. A single partner breach can cascade: 41.8% of fintech breaches originated via third party vendors. DeepStrike’s experience underscores that supply chain attacks like MOVEit based ransomware have repeatedly hit banks and fintech clients.
• Insider Threats: As seen with Cash App, a rogue employee can cause huge leaks. Fintech insiders have access to critical data and should be monitored.
• Legacy Security Gaps: New fintech startups may push features faster than security. Common coding flaws SQL injection, SSRF, etc. and misconfigurations remain. For example, API bugs have led to breaches Revolut’s refund flaw.
• Social Engineering: Financial users are targets for phishing. Kroll reports a 21% jump in BEC/phishing in 2023, and banks often see credential stuffing PayPal or phishing induced account takeovers. See our account takeover case study for PayPal’s breach.
• Crypto Specific Risks: Crypto and DeFi use smart contracts and private keys. Bugs or poor key management lead to multi million hacks. Chain bridges like Ronin have repeatedly failed security audits.

In short, fintech firms are rich targets with hard problems. Attackers adapt rapidly, so continuous vigilance is needed.

Mitigations: Security Best Practices

The good news: knowing these stats guides defenses. Fintech security teams can take action:

1. Penetration Testing Regularly simulate attacks on fintech apps and networks. DeepStrike recommends investing in robust penetration testing services and continuous penetration testing platforms to uncover flaws before attackers do. For example, testing payment APIs, mobile apps, and cloud configurations can find the OWASP Top 10 issues that fintech breaches often exploit. PTaaS Penetration Testing as a Service provides ongoing pen tests, ideal for dynamic fintech environments.
2. Secure Coding & Reviews Follow OAuth security best practices for authorizing transactions and use token audits to avoid JWT exploits. Enforce strong input validation to prevent common web vulnerabilities like SQL injection or SSRF. Use automated tools SAST/DAST alongside manual code reviews.
3. Threat Modeling & Red Teaming Think like an attacker. Conduct red team exercises to test phishing resilience see our phishing attack trends and statistics and incident response. Simulate supply chain attacks to see if vendors could bring you down.
4. Strong Authentication Enforce MFA everywhere. Phishing and credential reuse still drive many breaches. Use identity solutions e.g. device based login, behavioral analytics. DeepStrike has helped fintech clients deploy MFA and bot mitigation to cut account takeover risk.
5. Third Party Risk Management Vet and monitor all vendors. Since 42% of breaches came via partners, fintechs must implement strict vendor security reviews and require breach notifications/contracts. If a key provider shows vulnerabilities, isolate or replace it quickly. This ties to broader supply chain attack statistics concerns.
6. Data Encryption & Tokenization Store PII and financial data encrypted at rest and in transit. If credentials or files are stolen, encryption can prevent misuse. Tokenize card data PCI standards so breaches leak useless tokens instead of raw numbers.
7. Backup & Incident Response Keep immutable backups to resist ransomware and regularly test incident plans. This helps limit downtime and costs after a breach. For compliance, recall: PCI DSS section 11.3, SOC 2, and HIPAA require such exercises.
8. Employee Training Teach staff to spot phishing, secure development, and proper data handling. Many breaches exploit human error. This ties into phishing trends and statistics and human factor mitigation.

As one DeepStrike consultant puts it: Fintech security is not a one off checkbox; it’s an ongoing practice. Leveraging Penetration Testing Services and secure engineering is not just ideal but necessary. Even simple fixes patching servers, closing idle ports, DDoS protection add up. Given the stakes, fintechs should budget for continuous testing and advanced monitoring tools like XDR or CSPM. In short, secure by design must be a priority.

Fintech breach statistics show one thing clearly: the threat is real and escalating. From massive crypto thefts to sneaky API vulnerabilities, the attacks of 2025 demand more than just awareness they require action. DeepStrike’s hands-on experience affirms that breaches in fintech cost millions and erode trust. The solutions are proactive: regular Penetration Testing Services, vigilant monitoring, and strong security culture.

Ready to Strengthen Your Defenses? The threats of 2025 demand readiness. If you need to validate your security posture, identify hidden risks, or build a resilient defense, DeepStrike can help. Our team of expert penetration testers and red teamers provides clear, actionable guidance to protect your fintech business.

Explore our penetration testing services to see how we uncover vulnerabilities before attackers do. Drop us a line we’re always ready to dive in.

About the AuthorMohammed Khalil is a Cybersecurity Architect at DeepStrike, specializing in advanced penetration testing and offensive security operations. With certifications including CISSP, OSCP, and OSWE, he has led numerous red team engagements for Fortune 500 companies, focusing on cloud security, application vulnerabilities, and adversary emulation. His work involves dissecting complex attack chains and developing resilient defense strategies for clients in the finance, healthcare, and technology sectors.

FAQs

• How common are fintech data breaches?

Very common. Breaches in the financial sector have surged in 2023, finance topped breach counts 27% of Kroll cases. SecurityScorecard found 18.4% of top fintechs had public breaches by 2024. With many high profile incidents each year, assume any fintech is at risk without proper security.

• What data is most often stolen in fintech breaches?

Mostly customer PII and financial info. Attackers grab names, emails, addresses, SSNs, and credit card details. Crypto hacks typically steal funds, not personal info. Insurtech breaches often leak SSNs/licenses from quote forms. Any stored credentials or tokens are especially valuable if compromised.

• How much does a fintech breach cost?

Extremely costly. IBM’s 2023 report says average $5.90M for financial breaches, higher than most industries. Those costs include remediation, fines, legal fees, and customer churn. Crypto losses dwarf that billions stolen, but even a single data leak can force regulatory fines in the millions e.g. fines against PayPal, Lemonade.

• Are crypto exchanges targeted more than banks?

Crypto platforms see larger heists due to stored funds on chain. For example, over $7B was stolen from crypto in 2022- 2024. Traditional banks generally deal more in data leaks PII, account takeover. Both face threats: crypto = big money hacks, banks = third party attacks and fraud. In practice, both must secure smart contract code, keys, and customer data.

• How do phishing and social engineering affect fintech security?

Greatly. Phishing is a top entry point. Kroll noted a 21% rise in business email compromises in 2023. Many fintech users fall for scams that lead to credential theft. Fintech firms train employees and clients on these threats. We link to phishing attack trends and statistics for more context.

• Can small fintech startups afford these protections?

They must try. Breaches at startups can be catastrophic. Solutions like cloud penetration testing or managed security services SOC as a service scale to budget. Regulators also push smaller firms to follow frameworks NIST, ISO 27001. Our advice: prioritize security early it’s cheaper than cleaning up a breach later.