Bybit Report: $2.37B Lost in Crypto Hacks During H1 2025 as DeFi and Exchanges Face Persistent Threats

The cryptocurrency sector has faced significant security challenges in the first half of 2025, with $2.37 billion lost across 121 security incidents, according to blockchain security firm SlowMist. Despite a 46% year-over-year drop in the number of attacks, total losses surged by 65.94% compared to H1 2024's $1.43 billion. Ethereum was the most targeted network, suffering $38.59 million in losses, followed by Solana with $5.8 million. This alarming trend highlights the persistent threats facing decentralized finance (DeFi) platforms and exchanges, underscoring the need for enhanced security measures in the rapidly evolving crypto landscape.

$2.37B Lost in Crypto Hacks During H1 2025 as DeFi and Exchanges Face Persistent Threats

The cryptocurrency sector suffered $2.37 billion in losses across 121 security incidents during the first half of 2025, according to blockchain security firm SlowMist. While the number of attacks dropped nearly 46% year-over-year, total losses surged 65.94% from H1 2024's $1.43 billion.

Ethereum bore the brunt of network-level attacks with $38.59 million stolen, followed by solana ($5.8 million) and Binance Smart Chain ($5.49 million). These platforms remain prime targets due to their liquidity and extensive user bases.

DeFi protocols accounted for 76% of all incidents but showed improved resilience - losses declined 28.67% to $470 million compared to 2024. Centralized exchanges suffered just 11 breaches, yet these proved catastrophic: Bybit alone lost $1.46 billion in a single attack, driving CEX losses to $1.88 billion collectively.

EU's MiCAR Framework Aims to Bring Legitimacy to Crypto Markets

The European Union's Markets in Crypto-Assets Regulation (MiCAR) represents a watershed moment for digital assets in Europe. By establishing a unified rulebook across 29 countries, the regulation replaces a fragmented system of national interpretations and lax oversight that once left investors vulnerable to scams and market chaos.

MiCAR introduces stringent requirements: mandatory licensing for exchanges like Bybit, which secured approval through its Austrian subsidiary, alongside robust AML protocols, capital reserves, and user protection measures. The framework seeks to transform crypto from a speculative Wild West into a regulated asset class—potentially sacrificing some of the sector's early volatility for mainstream adoption.

While critics argue excessive regulation may stifle innovation, proponents counter that stability and trust are prerequisites for institutional participation. Bybit's compliance and the launch of its dedicated EU platform signal how major exchanges are adapting to this new era of accountability.