Crypto-related crimes continue to pose a significant risk to the digital asset sector. The first half of 2025 saw a large increase in stolen funds and scams with threat actors targeting both cryptocurrency exchanges and individual wallets with sophisticated approaches. According to blockchain analytics firm Chainalysis, over $2.17 billion has already been stolen from cryptocurrency services this year, surpassing the total amount lost in the whole of 2024.
Crypto Thefts Surge Globally
Chainalysis' mid-year Report reveals that crypto thefts in 2025 are already 17 per cent higher than those seen by mid-2022, which was previously the worst year on record. If this trend continues, total funds stolen could exceed $4 billion by the end of the year.
While the Report covered data only up to June, it noted that countries like the U.S., Germany, Russia, Canada, Japan, Indonesia, and South Korea saw the bulk of these incidents. In India, a major case surfaced soon after the Report's release. The cryptocurrency exchange CoinDCX announced a hack on July 19 that cost them around $44 million. CoinDCX's co-founders, Sumit Gupta and Neeraj Khandelwal, stating the platform would cover the losses using internal reserves.
Individual Wallets Under Attack
Personal wallet hacks are becoming a more serious concern beyond cryptocurrency platforms. Chainalysis noted that attacks on individual wallets now account for more than 23 per cent of all stolen fund activity in 2025.
Many crypto assets that have been stolen are no longer being transferred immediately. As of mid-2025, around $8.5 billion in cryptocurrency stolen this year from personal wallets occurs idle on the blockchain, by an additional $1.28 billion from exchange hacks remaining unlaundered.
ByBit Hack: A Major Incident
The one of the most notable incidents was the $1.5 billion ByBit hack, attributed to state-sponsored attackers from North Korea. It is now considered the largest crypto hack in history and alone accounts for nearly 69 per cent of the year's total stolen funds from services. This large-scale and sophisticated breach signals a growing threat from geopolitical scammers.
In the first half of 2025, crypto thefts have already almost surpassed the total losses recorded in all of 2024, which stood at $2.2 billion. The Report estimates that more than $4.3 billion in digital assets can be recorded by the end of the year if the current trend continues.
