Crypto Hack Losses Surge to Record $2.47B in First Half of 2025

Blockchain security firm CertiK reported a record spike in losses to cryptocurrency hacks, exploits and scams totaling $2.47 billion during the first six months of 2025.

Despite this significant increase, CertiK noted a correction in the second quarter (Q2) with $800 million lost across 144 incidents—a 52% decline compared to Q1 in both value and frequency (59 fewer hacking incidents).

“Without those events, total losses in 2025 would stand at $690 million,” said CertiK.

Bulk of H1 Losses Attributed to Two Major Incidents

CertiK attributed the overall spike primarily to two massive exchange thefts:

• Bybit: An $1.5 billion Ether theft via a cold wallet vulnerability on February 21.
• Cetus Protocol: A $225 million exploit targeting the Sui blockchain’s primary decentralized exchange on May 22.

The two incidents together accounted for $1.78 billion of the total H1 losses. CertiK stressed that the severity level may not have universally deteriorated as the total annual figure masks significant fluctuations.

Shift in Attack Vectors

Data from CertiK’s report highlights a shift in attack patterns:

• **Phishing attacks** were most frequent: 132 incidents yielded $410 million.
• **Wallet compromises** proved costliest overall: exceeding $1.7 billion stolen in 34 incidents.
• Ethereum’s vulnerability decreased slightly, from 98 incidents in Q1 to 70.

Industry Adjustments and Regulatory Developments

CertiK noted an $187 million recovery brought the adjusted H1 loss figure closer to $2.2 billion. Looking beyond security, the firm highlighted significant regulatory movements:

• US SEC under Trump administration’s reforms may drop enforcement actions against crypto firms.
• Hong Kong passes Stablecoin Bill.
• EU’s MiCA framework enters force.

“Together, these developments signal both growing institutional interest and a maturing regulatory environment,” CertiK stated.

Toward a Secure Future

CertiK emphasized the importance of security practices amidst growing market interest:

“As new capital flows into the space, maintaining rigorous security standards will be more important than ever.”

CertiK recommends: avoiding unknown links, checking domain authenticity, enabling MFA, and using hardware wallets.

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