crypto startup

Fixygen: worst crypto startups and anti-cases of 2025 — where market punished hardest

If 2024 was the year of “survival,” then 2025 became the year of “punishment for weak security and tokenomics.” According to Chainalysis estimates, more than $3.4 billion was stolen in 2025, with one incident — the Bybit compromise in February — accounting for about $1.5 billion. Industry security reviews also recorded losses of “more than $4 billion” for the year and an increase in the share of incidents due to operational failures.