$2.1B in Crypto Wiped Out in 2025 Surge of Global Cyberattacks

The cryptocurrency sector has faced a brutal start to the year, with over $2.1 billion lost to hacks and protocol exploitsin the first six months of 2025, according to new research from blockchain intelligence firm TRM Labs.

An overwhelming $1.6 billion of that total is tied to hacking groups linked to North Korea, particularly the Lazarus Group—raising renewed concerns over the growing use of digital assets to fund rogue regimes and illicit state-backed programs.

“These aren’t random attacks anymore—they’re planned, strategic, and executed with national-level coordination,” said a senior analyst at TRM Labs.

North Korean Operations Behind Record-Breaking Theft

The largest single incident so far this year was the Bybit breach in February, where attackers made off with $1.5 billionin cryptocurrency from cold wallet reserves. The U.S. Treasury and FBI have since connected the operation to Lazarus, the same group behind previous high-profile crypto raids.

The funds were quickly moved through privacy coins and cross-chain bridges, making recovery efforts difficult and sparking urgent calls for international cooperation on crypto crime enforcement.

Other State-Aligned Attacks Surface

In addition to North Korea, new attack patterns have emerged in politically tense regions. A recent breach of Iran’s Nobitex exchange in early June saw losses of over $90 million, with some cybersecurity experts linking the hack to pro-Israeli actors—though no group has formally claimed responsibility.

So far this year, 75 major incidents targeting crypto exchanges, DeFi protocols, and bridges have been reported globally—matching the total number recorded during all of 2024.

Bitcoin Mining Profits Slide Post-Halving

The April 2025 Bitcoin halving has created significant pressure on miners, particularly smaller operations in North America and Europe.

According to CryptoQuant, daily revenue for Bitcoin miners fell to $34 million by late June, the lowest since the halving. Rising energy costs and reduced block rewards have squeezed margins, while a drop in network transaction fees has left miners increasingly reliant on price rebounds to stay solvent.

The cost to mine one Bitcoin now averages $70,000—leaving many operators temporarily unprofitable during market dips. Despite this, on-chain data shows that miner sell-offs remain limited, suggesting many are holding onto reserves in anticipation of a second-half rebound.

Pressure on Exchanges and Protocols

The rapid surge in exploit activity has rattled investor trust and put mounting pressure on both centralized and decentralized platforms to enhance security protocols. TRM Labs reported a sharp increase in front-end attacks, seed phrase thefts, and smart contract exploits—underscoring vulnerabilities across both new and established crypto services.

“The rise in high-value, targeted breaches means platforms can no longer rely on basic perimeter defenses,” said a cybersecurity advisor to several top exchanges.

Regulators across the U.S., EU, and Asia have increased oversight in response, demanding greater transparency in how platforms manage user funds and protect private keys.

Key Numbers:

• $2.1 Billion+ in crypto losses from hacks and exploits in H1 2025

• $1.6 Billion linked to North Korean cybercrime groups

• 75 confirmed incidents of theft targeting major crypto platforms

• $34 Million daily Bitcoin miner revenue as of late June

• $70,000+ average mining cost per BTC

Crypto platforms and regulators are now racing to respond as cybercriminals grow more coordinated and well-funded. With billions already lost and more sophisticated attacks expected, 2025 is shaping up to be a defining year for how digital assets are secured—and trusted—around the world.

Also Read: FATF Warns of Crypto Crime Surge, Urges Nations to Strengthen Regulation