The first half of 2025 has delivered a stark reminder of the crypto ecosystem’s vulnerabilities, with over USD 2.1 billion stolen across at least 75 distinct hacks and exploits. This marks a significant surge in illicit activity — surpassing the previous H1 record set in 2022 by roughly 10% and nearly equaling the total amount stolen in all of 2024 — and highlights an increasingly concentrated threat to digital assets. The largest cryptocurrency hack on record reshaped the entire narrative of H1 2025: the USD 1.5 billion attack on Dubai-based crypto exchange Bybit in February, which we assess was carried out by North ... (full story)