Crypto-Related Attacks Surge in 2025
A shocking report by TRM Labs has revealed that in the first half of 2025, crypto-related attacks have led to an unprecedented loss of $2.1 billion, primarily due to breaches of private key security and front-end vulnerabilities. Infrastructure exploits were particularly devastating, making up over 80% of the total value stolen in 75 separate incidents, averaging a staggering $30 million per hack, which is double the average amount from the same period in 2024.
Understanding Infrastructure Attacks
Infrastructure attacks compromise the underlying security systems of crypto platforms, allowing criminals to gain unauthorized access, mislead users, or misdirect funds. These tactics often involve hijacking the seed phrase of a crypto wallet or tampering with the user interface of various crypto protocols, leveraging fundamental flaws in the cryptographic systems.
In addition to infrastructural issues, protocol exploits—including flash loans and re-entrancy attacks—led to further losses amounting to 12% of the total thefts during this timeframe. These sophisticated attacks target the vulnerabilities within blockchain protocols’ smart contracts or their core logic to siphon funds or disrupt the operational integrity of systems.
Alarming Trends in Crypto Losses
Notably, the surge in losses marks an alarming trend, surpassing the previous high of 2022 by approximately 10%, and nearing the complete losses of 2024. This rise underscores the increasingly focused threat facing digital assets in the crypto realm. According to TRM Labs, a considerable portion of these losses can be attributed to state-driven cyberattacks, with North Korea’s February breach of Bybit—a Dubai-based cryptocurrency exchange—accounting for about $1.5 billion of the total losses, which equates to nearly 70%.
Additionally, the hacker group Gonjeshke Darande, suspected to have connections to the Israeli government, significantly contributed to the loss average by exploiting Iran’s prominent crypto exchange, Nobitex, netting an uncharacteristically low amount of $100 on June 18. Overall, January through June witnessed numerous instances where thefts exceeded $100 million, highlighting a shift towards increased strategic activity within the realm of cybercrime.
Recommendations for Enhanced Security
To counter these rising threats, TRM Labs emphasizes the necessity for the cryptocurrency industry to enhance its security measures. Recommendations include:
- Implementing multifactor authentication
- Utilizing cold storage solutions
- Conducting regular audits
- Enhancing measures against insider threats and social engineering tactics
Furthermore, TRM Labs calls for a “multifaceted collaboration” between global law enforcement, financial intelligence units, and blockchain analysis organizations.
“The record thefts of the first half of 2025 signal an urgent need for a unified, strategic security approach tailored not only to combat crime but also to defend against covert state-sponsored activities,”
they declared in their report.
