The first half of 2025 recorded unprecedented losses in the crypto space due to hacks, primarily attributed to infrastructure attacks and protocol vulnerabilities.
Reasons for Record Losses
According to TRM Labs, crypto hacks have resulted in losses of $2.1 billion, exceeding the previous record set in 2022 by 10%. Over 80% of stolen funds have resulted from infrastructure attacks, which generally lead to significantly higher losses compared to other types of hacks.
Notable Hack Incidents
Among the notable incidents is the February hack of the Bybit exchange, which resulted in $1.5 billion theft. This incident alone accounted for 70% of the total crypto stolen in 2025. Also significant was the hack of Iran's Nobitex for $100 million, executed by the hacker group Predatory Sparrow.
Efforts to Enhance Security
TRM Labs urges the crypto industry to adopt more stringent security measures, including multi-factor authentication, cold wallet storage, and improved detection of insider threats. The reports highlight the need for global cooperation between blockchain intelligence firms, law enforcement, and financial monitors to combat threats.
The record-breaking losses in H1 2025 underscore the critical need for collaborative efforts to enhance security in the crypto industry.
