Crypto Heists Soar: BTC, ETH, XRP Thefts Hit $2.1B in 2025’s First Half – A Hacker’s Bull Market?

Crypto’s dark side just had a record-breaking quarter—while traders chased pumps, thieves quietly cashed out.

The haul: A staggering $2.1 billion vanished from BTC, ETH, and XRP holdings before July. Forget bear markets—cybercriminals are clearly in a supercycle.

Irony alert: Banks get fined for lax security, but when crypto gets raided? Just another ‘decentralization feature.’ Maybe add ‘theft-resistant’ to those whitepaper buzzwords.

Silver lining? At least the hackers appreciate true hodl mentality—they never sell during dips.

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A new report from TRM Labs found that there have been 75 major incidents related to cryptocurrencies in the first six months of 2025. That topped the previous first half record set in 2022 by about 10% and nearly matched the amount of crypto assets stolen in all of 2024.

TRM Labs blames the rise in crypto thefts on North Korea intensifying its cyber attacks in the crypto space. Researchers say North Korean-linked groups are responsible for $1.6 billion, or 70% of all the stolen funds from digital assets this year.

State Actors

The biggest hack that occurred in this year’s first half was the $1.5 billion Bybit hack that took place in February. The Bybit attack is widely viewed as the largest crypto theft in history and is believed to have been perpetrated by North Korea.

TRM Labs says that crypto hacks and cyber attacks by nation states are evolving and pose the biggest threat to investments related to digital assets. Additionally, more than 80% of the crypto funds stolen in this year’s first half stemmed from infrastructure-level breaches, including private key thefts and front-end hijacks.

Bitcoin (BTC), the largest crypto by market capitalization, has risen 15% this year.

Is BTC a Buy?

Most Wall Street firms don’t offer ratings or price targets on cryptocurrencies such as Bitcoin, so we’ll look instead at its three-month performance. As one can see in the chart below, the price of BTC has risen 28.77% in the last 12 weeks.