Blockchain researcher ZachXBT said that the crypto industry has entered a «crime supercycle». A new study has shown that in the first half of 2025 alone, hackers stole more than $2.1 billion worth of cryptocurrencies as a result of at least 75 attacks and exploits. This exceeded the previous anti-record set in 2022 by about 10% and is almost equal to the total amount stolen in all of 2024.
The largest cryptocurrency hack in the history of rewrites occurred as a result of attacks on the large Bybit exchange in February, when North Korean hackers This incident accounted for almost 70% of the total losses. However, other attacks in January, April, May, and June resulted in a total loss of $100 million.
Groups linked to the DPRK are responsible for $1.6 billion of the total amount stolen in the first half of 2025.
Hacking of Iran’s largest crypto exchange Nobitex on June 18, 2025, a hack of more than $90 million by the hacktivist group Gonjeshke Darande (also known as Predatory Sparrow), which is reportedly linked to Israel, shows that other states may increasingly use crypto hacks for geopolitical purposes. Representatives of Gonjeshke Darande stated that they attacked the exchange because of its assistance to the Iranian regime in circumventing international sanctions and financing illegal activities.
The attackers transferred the stolen funds to addresses without the corresponding private keys — indicating that they do not have the intention or ability to access these funds.
Overall, more than 80% of the stolen funds in the first half of 2025 were the result of infrastructure attacks (theft of private keys and passphrases, as well as compromise of frontend code).
Protocol exploits accounted for another 12%, highlighting vulnerabilities in DeFi smart contracts or the underlying protocol logic.
Source: TRM
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