When the Federal Bureau of Investigation (FBI) sounds the alarm on cybersecurity, organizations should take immediate notice. The latest ...
In the first half of 2025, hackers stole a record $2.1 billion in cryptocurrency, marking an all-time high. The data highlights the vulnerable state of the cryptocurrency industry. North Korean state-sponsored hackers accounted for 70% of the losses, responsible for USD 1.6 billion, rising as the most notorious nation-state actor in the crypto space, according to a report by TRM Labs.
This indicates a significant increase in illegal operations, surpassing the 2022 H1 record by 10% and nearly matching the total amount stolen for the entire 2022 year, highlighting the danger to digital assets.
The biggest cryptocurrency attack has redefined the H1 2025 narrative, the attack on Dubai-based crypto exchange Bybit. TRM believes the attack highlights a rising effort by the Democratic People’s Republic of Korea (DPRK) for cryptocurrency profits that can help them escape sanctions and fund strategic aims like nuclear weapons programs, besides being a crucial component of their statecraft.
“Although North Korea remains the dominant force in this arena, incidents such as reportedly Israel-linked group Gonjeshke Darande (also known as Predatory Sparrow) hacking Iran’s largest crypto exchange, Nobitex, on June 18, 2025, for over USD 90 million, suggest other state actors may increasingly leverage crypto hacks for geopolitical ends,” TRM said in a blog post.
"Infrastructure attacks — such as private key and seed phrase thefts, and front-end compromises — accounted for over 80% of stolen funds in H1 2025 and were, on average, ten times larger than other attack types," reports TRM. These attacks target the technical spine of the digital asset system to get illicit access, reroute assets, and mislead users. Infrastructure attacks are done via social engineering or insider access and expose fractures in the cryptosecurity foundation.
H1 2025 has shown a shift towards crypto hacking, attacks from state-sponsored hackers, and geopolitically motivated groups are rising. Large-scale breaches related to nation-state attacks have trespassed traditional cybersecurity. The industry must adopt advanced, effective measures to prevent such breaches. Global collaboration through information sharing and teamed efforts can help in the prosecution of such cyber criminals.
A 25-year-old British citizen has been formally charged in the United States for allegedly leading an international hacking operation that caused millions in damages to individuals, companies, and public institutions.
Authorities in the US claim the man, identified as Kai West, was the person behind an online identity known as "IntelBroker." Between 2022 and 2025, West is accused of breaking into systems of more than 40 organizations and trying to sell sensitive data on underground online forums.
According to court documents, the financial impact of the operation is estimated to be around £18 million. If convicted of the most serious offense—wire fraud—West could face up to 20 years in prison.
Prosecutors believe that West worked with a group of 32 other hackers and also used the online alias “Kyle Northern.” While officials didn’t name the specific forum used, various sources suggest that the activity took place on BreachForums, a site often linked to the trade of stolen data.
Investigators say West posted nearly 160 threads offering stolen data for sale, often in exchange for money, digital credits, or even for free. His alleged victims include a healthcare provider, a telecom company, and an internet service provider—all based in the US. While official names were not disclosed in court, separate reports connect the IntelBroker identity to past breaches involving major companies and even government bodies.
One particularly concerning incident tied to the IntelBroker persona occurred in 2023, when a data leak reportedly exposed health and personal information of US lawmakers and their families. This included details such as social security numbers and home addresses.
Officials say they were able to trace West’s identity after an undercover operation led them to one of his cryptocurrency transactions. A $250 Bitcoin payment for stolen data allegedly helped link him to email addresses used in the operation.
West was arrested in France in February and remains in custody there. The United States is now seeking his extradition so he can stand trial.
The US Department of Justice has called this a “global cybercrime operation” and emphasized the scale of damage caused. FBI officials described West’s alleged activity as part of a long-running scheme aimed at profiting from illegally obtained data.
French authorities have also detained four other individuals in their twenties believed to be connected to the same forum, although no further details have been made public.
As of now, there has been no official response or legal representation comment from West’s side.