According to TRM Labs, over $2.1 billion has been lost due to cryptocurrency theft in the first half of 2025, highlighted by the significant hack of the Bybit exchange.
Bybit Breach Sets Record in Cryptocurrency Theft
In February 2025, the Bybit hack resulted in $1.5 billion being stolen, accounting for nearly 70% of total cryptocurrency losses for the first half of 2025. This incident considerably influenced statistics, raising the average hack size to nearly $30 million, double the $15 million average from the first half of 2024. Each month from January to June 2025 saw over $100 million stolen, indicating a persistent threat to the cryptocurrency space.
North Korean Hackers Dominate Cryptocurrency Thefts
Data from TRM Labs identifies North Korea-linked actors as responsible for $1.6 billion of the total stolen assets in the first half of 2025. These actions serve state-level goals, including sanctions evasion and funding nuclear programs. North Korean hackers are becoming increasingly active in cybercrime, reinforcing their image as a primary threat in the cryptocurrency arena.
Infrastructure Attacks as Primary Threat
Infrastructure attacks account for over 80% of all stolen funds in the first half of 2025, with an average size ten times larger than other attack types. Major threats include the theft of private keys and recovery phrases, along with front-end compromises. These attacks are typically executed through social engineering and insider actions, exposing vulnerabilities in cryptographic systems.
The first half of 2025 shows an increase in fraudulent activities within the cryptocurrency sector, with infrastructure attacks dominating and state actors like North Korea playing an active role. This highlights the urgent need for improved security and protection in the industry.
