Crypto Hacks Surge in 2025, TRM Labs Reports

$2.1 Billion Vanished: Crypto Hacks Surge in 2025, TRM Labs Reports

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 27, 2025

Key Takeaways

Around $2.1 billion in crypto was stolen in early 2025, with over 80% tied to key and front-end attacks;
North Korea’s $1.5 billion Bybit hack drove losses sky-high, raising the average theft to $30 million;
Flash loan and smart contract exploits made up 12% of total losses so far this year.

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TRM Labs, a blockchain intelligence company, reported that around $2.1 billion in crypto has been stolen in the first half of 2025.

The majority of the stolen funds came from what the firm describes as infrastructure-level attacks. These include taking over a crypto wallet by accessing its seed phrase or tampering with the user interface of a platform.

TRM Labs explained that such hacks often succeed because they exploit both technical flaws and people’s trust.

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Another method used by attackers was to break into smart contracts. This involved tactics like flash loans or triggering bugs that let them take funds or interfere with how systems are supposed to work.

A major part of the losses came from North Korea’s theft of $1.5 billion from Bybit, a Dubai-based exchange, in February. That incident made up nearly 70% of the year’s total. It also pushed the average loss per attack to around $30 million.

However, even without the Bybit $4.34B case, other months like January, April, May, and June each saw over $100 million in stolen crypto.

Some attacks were likely tied to political goals. On June 18, a group known as Gonjeshke Darande, which has been linked to Israel, stole over $90 million from Iran’s largest exchange, Nobitex. How did it happen? Read the full story.