Bybit Report Highlights Crypto Security Challenges Amid $2.1B H1 2025 Hack Surge

The cryptocurrency industry faced its worst six-month period in history during the first half of 2025, with hackers stealing over $2.1 billion in digital assets. According to a TRM Labs report, this marks a 10% increase from the previous H1 high in 2022 and nearly matches the total losses for the entire year of 2024. Notably, North Korean-linked cybercriminals were responsible for a staggering 70% of these thefts, accounting for $1.6 billion. This alarming trend underscores the growing sophistication of cyber threats in the crypto space and the urgent need for enhanced security measures. As platforms like Bybit continue to prioritize user protection, these findings serve as a critical reminder of the importance of robust security protocols in safeguarding digital assets.

Crypto’s Worst Six Months: North Korea-Linked Hacks Account for $1.6B of $2.1B Thefts

The cryptocurrency sector suffered its most damaging six-month period on record, with hackers stealing over $2.1 billion in digital assets during the first half of 2025. A TRM Labs report reveals a 10% increase from the previous H1 high in 2022, nearly matching 2024’s full-year total. North Korean cybercriminals dominated the thefts, responsible for 70% of the losses—$1.6 billion—highlighting the growing sophistication of state-sponsored attacks.

The $1.5 billion breach of Bybit in February, now attributed to Pyongyang, stands as the largest crypto heist in history. This single incident doubled the average hack size to $30 million compared to 2024. Infrastructure-level vulnerabilities—particularly private key compromises and front-end exploits—accounted for 80% of the losses, signaling a shift in attackers’ strategies.

Geopolitical motives surfaced in June when Gonjeshke Darande, a group linked to Israel, siphoned $90 million from Iranian exchange Nobitex. The deliberate burning of stolen funds through vanity addresses suggested retaliation over alleged sanctions evasion rather than financial gain.

Crypto Thefts Surge to Record $2.1 Billion in First Half of 2025

Cryptocurrency investors suffered $2.1 billion in losses from hacks, thefts, and scams during the first six months of 2025, marking the worst half-year period for digital asset security on record. Major cryptocurrencies like Bitcoin (BTC), ethereum (ETH), and XRP (XRP) were among the primary targets.

A TRM Labs report reveals 75 significant crypto-related incidents, surpassing the previous first-half record set in 2022 by 10% and nearly matching total thefts for all of 2024. North Korea's intensified cyberattacks account for 70% of stolen funds, with state-linked groups responsible for $1.6 billion in losses.

The $1.5 billion Bybit hack in February stands as the largest single crypto theft in history, attributed to North Korean operatives. Nation-state attacks now represent the most severe threat to digital asset investments, with evolving tactics outpacing security measures.

Crypto Theft Surges to $2.1B in 2025: State Actors Lead Historic Wave of Attacks

The first half of 2025 has become the most damaging six-month period in crypto history, with over $2.1 billion stolen across more than 75 incidents. This marks a 10% increase over the previous H1 record set in 2022 and nearly equals the total crypto losses from all of 2024.

The $1.5 billion breach of Bybit, a Dubai-based exchange, in February stands as the largest crypto hack ever recorded. North Korea is assessed to be behind the attack, which alone contributed nearly 70% of all funds stolen this year. The average hack size has doubled to $30 million compared to H1 2024.

North Korean-linked threat actors account for $1.6 billion of the total stolen, reinforcing the regime's role as crypto's most prolific nation-state adversary. These funds are believed to support sanctions evasion and strategic programs, making cryptocurrency theft a Core tool of DPRK statecraft.

The trend extends beyond isolated incidents, with each month except March posting losses exceeding $100 million. The broadening landscape includes allegations against Israel-linked cyber groups, signaling a sustained threat to the crypto sector.