The year 2025 is rapidly becoming one of the worst years on record for cryptocurrency theft, according to a recent report. Hackers have already stolen over $2.17 billion from crypto firms in the first half of the year, outpacing the total stolen in all of 2024.
North Korean-Linked Attacks Drive Majority of Crypto Thefts
The Lazarus Group, a North Korean state-sponsored hacking organization, is at the center of this alarming trend. A record-breaking $1.5 billion hack on the Bybit exchange earlier this year has already eclipsed North Korea’s total haul from crypto hacks in 2024.
North Korean hackers are now responsible for more than half of all stolen crypto in 2025 so far.
These groups continue to exploit human vulnerabilities using social engineering tactics, such as fake job offers and interviews, to infiltrate crypto platforms.
Chainalysis Warns of a Potential $4.3 Billion Loss Year
Blockchain analytics firm Chainalysis projects that, if current trends continue, stolen crypto in 2025 could exceed $4.3 billion — making it the most damaging year ever for the industry.
“Stolen fund activity stands out as the dominant concern in 2025,” the report notes, highlighting this as both a short-term threat and a long-term infrastructure issue for the digital asset ecosystem.
This surge is happening despite enhanced security at centralized services, suggesting that attackers are adapting quickly to tighter controls.
Rise in Wrench Attacks and Targeted Wallet Thefts
Another disturbing development in 2025 is the increase in “wrench attacks” — physical assaults or intimidation tactics used to force individuals to give up access to their crypto wallets.
Personal wallets now account for 23.35% of all stolen crypto, reflecting a major shift from previous years when centralized platforms were the main targets.
Improved centralized exchange security and the growing value of private crypto holdings have made individuals more attractive to attackers. This shift is also aided by the use of AI-enhanced targeting, allowing attackers to locate and manipulate potential victims with greater accuracy.
Conclusion: Growing Risks Require Smarter Defense
As the threat landscape evolves, crypto investors must adopt stronger personal security practices, including cold storage, multi-factor authentication, and privacy measures. The dramatic rise in 2025 thefts underscores an urgent need for industry-wide reform and public awareness.
With over $2 billion already lost and several months remaining, 2025 may reshape the conversation around digital asset safety and regulation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.