In the first six months of 2025, the cryptocurrency sector has suffered thefts exceeding $2 billion, marking the highest ever recorded for this period. The findings, based on verified research from industry watchdogs, highlight a sharp rise in both the frequency and scale of digital asset breaches.
Surge in Attacks: Over 75 Major Incidents
Between January and June, at least 75 confirmed hacks and exploits were reported. These incidents collectively amounted to around $2.1 billion in losses, surpassing previous mid-year records. Losses of over $100 million occurred in multiple months, indicating that the threat is persistent and widespread, not isolated to one-off events.
A Single Breach Makes Up Majority of Losses
One particular cyberattack early in the year stood out for its scale. In February 2025, a high-profile breach of a crypto exchange caused losses estimated at $1.5 billion, accounting for nearly 70% of total thefts in the first half of the year. This incident has skewed the average size of each attack upward to $30 million, double what it was during the same period last year. However, large-scale thefts have continued even outside this major event, showing a broader trend of growing risk.
Geopolitical Dimensions: Government-Linked Groups Involved
Cybercrime experts have attributed a substantial share of these losses—approximately $1.6 billion to attackers allegedly tied to nation-states. Analysts suggest these operations may be used to bypass economic restrictions or finance state agendas. The involvement of politically motivated groups points to the increasingly strategic nature of cyber theft in the crypto space.
A separate incident in June targeted a leading exchange in the Middle East, resulting in nearly $90 million in losses. Investigators believe this attack may have had symbolic motives, as funds were transferred to unusable wallets, hinting it wasn’t purely financially driven.
Methods of Attack: Internal Weaknesses Prove Costly
Reports reveal that infrastructure-based breaches, such as stolen private keys, employee collusion, and vulnerabilities in user-facing systems were responsible for over 80% of the losses. These types of attacks tend to cause far more financial damage than technical bugs in blockchain code.
While smart contract vulnerabilities, including re-entrancy and flash loan exploits, still pose risks, they now represent a smaller share of total thefts. This is partly due to quicker response times and faster security patching in decentralized protocols.
Industry Response: The Call for Stronger Security
Experts are urging all crypto companies to reinforce their defenses. Key recommendations include storing assets offline (cold storage), using multi-factor authentication for all access points, and conducting regular audits. Addressing insider threats and improving staff awareness through training is also critical.
Additionally, collaboration between law enforcement agencies, financial crime units, and blockchain analysts has been identified as essential. Timely sharing of data and cross-border tracking could prove vital in curbing large-scale thefts as digital assets become more intertwined with national security concerns.
