16 billion passwords leaked. Is it finally time for blockchain-based digital identity?

Key Points

1. In June 2025, cybersecurity researchers uncovered a leak of over 16 billion login details from platforms like Google, Apple, and government systems, accessible without hacking expertise.

2. Infostealer malware was responsible for 2.1 billion stolen credentials in 2024, showing the ongoing risks of password-based systems.

3. Current security measures like 2FA and password managers are seen as insufficient, with vulnerabilities to phishing and malware.

4. Blockchain-based self-sovereign identity (SSI) is proposed as a long-term solution, eliminating the need for passwords and offering tamper-proof credentials.

5. The EU, Germany, South Korea, and startups like Dock Labs and Polygon ID are already trialing blockchain identity solutions, though challenges like interoperability and user onboarding remain.