Web3 security firm CertiK reported that on-chain security incidents led to $118 million in losses in December 2025. Phishing attacks were the primary cause, responsible for $93.46 million, or nearly 79% of the total losses. "Address poisoning" attacks contributed $51.85 million to the losses, followed by wallet theft at $29.44 million and insider attacks at $11.38 million. The most significant single incident was a Trust Wallet vulnerability, which resulted in $8.5 million in losses. Recovery efforts were minimal, with only $159,000 recovered, underscoring the critical need for enhanced on-chain security measures.