According to SlowMist's report, blockchain attacks led to losses of $2.373 billion in the first half of 2025, despite a decrease in the number of incidents.
Decrease in Incidents but Increase in Losses
The first half of 2025 saw 121 security incidents across blockchain networks, a significant drop from 223 incidents in the same period in 2024. However, total losses increased by 65.94%, reaching $2.373 billion compared to $1.43 billion the previous year. Ethereum was the most impacted network, suffering $38.59 million in losses. Meanwhile, DeFi protocols emerged as primary targets, experiencing 92 incidents and approximately $470 million in losses.
Changes in Fraud Tactics
The first half of 2025 marked a shift in fraud tactics in the blockchain space. Phishing related to EIP-7702 authorization actions saw an uptick, with attackers exploiting delegating contract mechanisms to steal funds. Additionally, deepfake technologies began to be used to create realistic video and audio materials, allowing fraudsters to bypass traditional verification methods. Police in Hong Kong and Singapore uncovered various fraud syndicates employing this technology, resulting in significant financial losses.
Asset Recovery and Regulatory Actions
During the first half of 2025, significant asset freezing and recovery operations were undertaken. Approximately $14.56 million of illegally stolen assets were frozen through cooperation between law enforcement and security teams. Notably, recovery efforts regarding major incidents yielded 1.73 billion dollars worth of lost assets, with around 270 million dollars being recovered or frozen. Regulatory frameworks in various jurisdictions are being developed to establish specific standards for crypto exchanges.
SlowMist's report emphasizes the ongoing vulnerability of blockchain infrastructure and the critical need for stricter regulation and secure practices in the crypto industry.
