Crypto Hacks Hit Record $2.1 Billion in H1 2025 as Private Key Exploits Dominate

The first half of 2025 has seen crypto-related hacks soar to a record $2.1 billion, driven primarily by private key exploits and front-end compromises, according to a new report from blockchain intelligence firm TRM Labs. The losses have already surpassed the previous high set in 2022 by around 10% and are on track to eclipse the total thefts recorded throughout 2024. TRM Labs’ analysis found that over 80% of crypto stolen across 75 incidents this year came from infrastructure attacks, which typically result in ten times higher losses than other attack types. These attacks often involve stealing wallet seed phrases or manipulating user-facing components of protocols to reroute funds. Protocol Hacks and State Actors Fuel the Surge Protocol exploits, such as flash loan and re-entrancy hacks , accounted for 12% of all losses during this period, targeting vulnerabilities in smart contracts and blockchain protocol logic. This method of exploitation allows attackers to siphon funds or disrupt services while leaving limited traces. The report highlighted the February hack of Dubai-based exchange Bybit , allegedly carried out by North Korean threat actors, as a key contributor to this year’s record losses. The attack alone drained $1.5 billion, accounting for nearly 70% of the total crypto stolen in 2025 so far. Other notable incidents include a $100 million hack of Iran’s Nobitex by the pro-Israel hacker group Predatory Sparrow in June. These incidents pushed the average hack size to nearly $30 million, double the average loss reported in the first half of 2024. TRM Labs noted that January, April, May, and June each saw monthly thefts exceeding $100 million, signaling a persistent and evolving threat to the digital asset ecosystem. Collective Action and Stronger Defenses TRM Labs urged the crypto industry to adopt robust security measures, including multifactor authentication, cold wallet storage, regular audits, and improved detection of insider threats. The report also emphasized the need for advanced social engineering defenses, given attackers’ increased reliance on manipulating users. TRM Labs concluded that addressing the rising wave of crypto hacks requires “multifaceted collaboration” between blockchain intelligence firms, law enforcement, and financial monitoring agencies worldwide. The firm warned that the record-breaking hacks in H1 2025 should serve as a wake-up call, underscoring the need for a globally aligned and proactive security posture against cybercriminals and state-sponsored threats alike. The post Crypto Hacks Hit Record $2.1 Billion in H1 2025 as Private Key Exploits Dominate appeared first on TheCoinrise.com .