$14.6 Million in RWA Hacks This Year Reveals the Gap Between Tokenization Hype and Reality

Real-world asset (RWA) tokenization reached $35.68 billion in 2025, with projections to hit $2 trillion by 2028. But the rapid growth exposed critical vulnerabilities: $14.6 million was lost to hacks—more than double the previous year—with most exploits occurring in DeFi wrappers rather than the tokenized assets themselves. The GENIUS Act provided regulatory clarity for stablecoins but left gaps across the full asset lifecycle. Meanwhile, institutional giants like BlackRock, JPMorgan, and State Street are building on private blockchains, validating the market but creating interoperability challenges. Platforms like Mavryk (tokenizing $10B in luxury real estate), Ondo Finance (Treasury-backed tokens), and Securitize (infrastructure provider) are attempting to bridge institutional compliance with public blockchain efficiency.