Crypto Theft Soars: Over $2 Billion Stolen in H1 2025

Hackers stole $2.1 billion from the cryptocurrency sector in the first half of 2025, with more than 80% of the sum resulting from infrastructure attacks, as reported by blockchain intelligence firm TRM Labs. The report highlights the massive impact of private-key thefts, seed-phrase exploits, and front-end hijacks, largely due to social engineering and compromised insider access. These exploits averaged ten times the financial impact of typical attacks. Additionally, vulnerabilities in DeFi, like flash loans and re-entrancy on smart contracts, accounted for 12% of losses, indicating ongoing issues in on-chain protocols. The losses in the first half of 2025 match the total thefts of 2024 and surpass the previous record from 2022 by about 10%. A key incident was the $1.5 billion Bybit hack in February, attributed to North Korean actors, dramatically increasing the average hack size to $30 million. TRM estimates that North Korean groups were responsible for stealing $1.6 billion, or 70% of the total for the period, as the regime uses these funds for weapon development. Another cited breach was at Iran’s Nobitex exchange by the Israel-aligned group Gonjeshke Darande, resulting in $90 million being sent to unspendable wallets amidst rising Middle Eastern tensions. TRM suggests that the crypto industry strengthens multi-factor authentication and improves cold storage to combat security threats. Enhancing insider threat defenses and improving international law enforcement coordination are also recommended. Furthermore, the industry needs stronger collaboration to maintain anti-theft efforts. "The path ahead requires multifaceted collaboration," stresses the report, urging for strategic alignment and proactive information sharing to deter state-sponsored cybercriminal activities effectively.