2025-7-18 17:53 |
The first half of 2025 has already set a new benchmark in cryptocurrency-related thefts, with criminals stealing $2.17 billion from crypto services, surpassing the $1.87 billion stolen across all of 2024.
According to blockchain analysis firm Chainalysis, the total value of digital tokens stolen — including both platform hacks and attacks on individuals — has reached more than $2.8 billion so far this year, approaching last year’s full-year total of $3.4 billion.
If the current trend continues, losses could breach $4 billion by the end of 2025.
While large-scale hacks remain the primary source of stolen assets, a worrying rise in violent attacks on individual crypto holders and their families has been noted.
Chainalysis highlighted a shift in criminal strategy as platforms improve their cybersecurity, prompting malicious actors to turn towards high-net-worth individuals and crypto influencers instead.
Bybit hack becomes the largest crypto heist in historyThe single largest contributor to crypto thefts in 2025 so far was the $1.5 billion attack on Dubai-based crypto exchange Bybit in February.
The breach has been linked to North Korea-backed hacking groups and is now considered the biggest crypto heist ever recorded.
This single incident accounted for nearly 70% of all crypto service-related thefts in the first half of the year.
Chainalysis noted that the scale of the Bybit breach eclipses other major attacks in recent memory and reflects how geopolitical actors, particularly those under sanctions, continue to leverage crypto theft as a revenue stream.
The attack’s fallout has drawn international scrutiny and intensified efforts among exchanges to overhaul security protocols and tighten compliance measures.
Attacks on individuals rise; 23% of thefts from personal walletsChainalysis reported that over 23% of crypto thefts in 2025 have come from attacks on personal wallets, marking a significant rise in physical threats and coercion.
Criminals are increasingly using force to bypass digital defences by targeting individuals with known crypto holdings.
In one January case in central France, Ledger co-founder David Balland and his wife were kidnapped from their home.
Before their release, attackers severed one of Balland’s fingers and sent a video of the act to fellow co-founder Eric Larcheveque, demanding a ransom payment.
In another instance in May, the father of a crypto entrepreneur was abducted in broad daylight by four masked men.
The kidnappers reportedly demanded several million euros and similarly amputated one of the victim’s fingers. He was later rescued by police.
These attacks underscore the growing personal risk faced by crypto investors, particularly those who are publicly associated with wealth or industry leadership.
The increase in wallet-targeted crimes has prompted renewed debate about physical security among high-profile individuals in the blockchain space.
Crypto adoption, rising prices, and online visibility drive riskChainalysis cybercrime research lead Eric Jardine attributed the surge in crypto-related crime to the combined effects of increased adoption and rising asset values.
More users and services within the ecosystem provide more opportunities for theft, while price appreciation amplifies the dollar value of each successful attack.
Jardine suggested that as centralised crypto services improve their defences, bad actors are shifting focus to individuals who may lack institutional-grade protection.
This shift also reflects a preference among criminals for multiple small-scale targets over a single high-risk operation.
Additionally, the public visibility of many crypto holders — especially influencers flaunting wealth on social media — has made them easy targets.
Jardine warned that such displays can draw unwanted attention, though he emphasised that victims should not be blamed for being targeted.
Despite these developments, efforts to mitigate theft continue, with exchanges investing in security and public awareness growing around digital and physical risks.
However, with $2.17 billion already gone in six months, 2025 may mark the most dangerous year yet for crypto investors.
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