Key Takeaways
- Crypto hacks in the first half of 2025 have already nearly matched all of 2024’s total losses.
- Front-end attacks and seed phrase vulnerabilities were the most common entry points.
- The $1.5 billion Bybit hack alone made up over 70% of the year’s total losses so far.
It has been a brutal year for crypto security.
According to a new report from TRM Labs , hackers stole billions from crypto platforms in the first six months of 2025, putting the industry on track to smash previous annual records.
The figure is already 50% higher than what was stolen in the same period last year, and nearly matches the total losses from all of 2024.
And the damage is being driven by a few massive incidents.
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Crypto Hacks Are Surging in 2025
TRM’s mid-year report paints a picture of increasingly organized threats.
According to the report, nearly $2.1 billion has been stolen across 75 incidents in the first six months of 2025, already eclipsing the $1.8 billion lost to hacks in all of 2024.
And it’s not just small exploits. One attack, Bybit’s $1.5 billion breach, accounts for more than 70% of the total.
TRM attributes the surge to a mix of front-end compromises (like fake UIs and malicious integrations) and users’ poor seed phrase security.
North Korean-linked Lazarus Group is once again a top suspect, while Israel-based Gonjeshke Darande pulled off another high-profile attack, draining $90 million from the country’s largest crypto exchange earlier this year.
Stablecoins Are a Favorite for Laundering—TRON Tops the List
The TRM report breaks down exactly how attackers are moving funds post-hack.
Stablecoins—especially USDT on TRON—continue to be the go-to asset for laundering stolen funds.
Hackers are increasingly using mixers, chain-hopping, and cross-chain bridges to cover their tracks, making it harder for investigators to follow the money trail.
Exchanges, DeFi platforms, and even front-end interfaces have become frequent targets due to weak or overlooked security points.
The report ends with a call for more proactive coordination between crypto platforms, law enforcement, and intelligence agencies.
The industry, it warns, can’t keep treating security like an afterthought, not when billions are on the line.
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