Crypto Hacks Hit $2.1B—Infrastructure to Blame
Insight into how private‑key and front‑end infrastructure attacks led to $2.1B in crypto theft during H1 2025.
- Over $2.1B was stolen in H1 2025—the worst half‑year on record.
- Infrastructure attacks (key theft, front‑end hijacks) made up 80% of losses.
- North Korea‑linked actors stole $1.6B, including the $1.5B Bybit hack.
The first half of 2025 saw crypto victims lose over $2.1 billion to hacking and exploits—the worst six-month stretch recorded. Analysts report that approximately 80% of those losses came from infrastructure attacks, including private key theft and front-end protocol manipulation. These methods often involve preying on human error or technical vulnerabilities, and they deliver significantly higher payouts per incident compared to typical smart contract exploits.
Infrastructure attacks have grown more sophisticated, often involving phishing, fake front-end websites, and inside access to private keys. This alarming trend signals that infrastructure—not smart contracts—has become the weak link in the crypto ecosystem.
State Actors Take the Lead
A major portion of these thefts—around $1.6 billion—was traced back to North Korea-linked hacking groups, most notably Lazarus. The largest single incident was the $1.5 billion Bybit exchange hack in February, making it one of the costliest breaches in crypto history. This surge in high-value hacks pushed the average theft to $30 million, up from $15 million in early 2024.
Other geopolitical players are following suit. In June, a group believed to be linked to Israel, known as Predatory Sparrow, stole nearly $100 million from Iran’s Nobitex exchange. These incidents underline the growing intersection between international politics and cybercrime in the crypto space.
Protocol Hacks Still Lurk
Although infrastructure attacks dominate, protocol-level vulnerabilities—like flash loans and re-entrancy exploits—still accounted for around 12% of total losses. While less frequent, these remain a persistent threat and highlight the need for constant code audits and security innovation in DeFi.
Toward a Secure Future
To combat these rising threats, crypto platforms are urged to adopt stronger security measures:
- Implement multi-factor authentication and store assets in cold wallets.
- Conduct regular security audits and monitor for suspicious activity.
- Train employees and users to recognize and avoid social engineering scams.
- Foster collaboration among law enforcement, blockchain forensics firms, and global regulators.
The first half of 2025 marks a turning point in crypto security. Infrastructure attacks are now the top threat, and without urgent improvements, even greater losses could follow.
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