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H1 2025 Hacks Hit $2.1B Record, Led by North Korean Actors: Report

2025-06-29 23:58:37

H1 2025 Hacks Hit $2.1B Record, Led by North Korean Actors: Report

Main Idea

The first half of 2025 saw a record $2.5 billion in crypto hacks, largely due to a $1.5 billion attack on Bybit attributed to North Korean state-sponsored actors, highlighting the growing use of crypto hacking as a geopolitical tool.

Key Points

1. The first half of 2025 recorded over $2.5 billion in crypto hacks, surpassing the previous H1 record set in 2022.

2. A single $1.5 billion attack on Dubai-based Bybit, attributed to North Korean state-sponsored actors, skewed the total and was the largest crypto hack ever.

3. About 75 distinct attacks occurred, with January, April, and May seeing significant cases exceeding $100 million each.

4. North Korean-linked groups likely used stolen funds to evade sanctions and fund other activities.

5. Private key/seed phrase vulnerabilities and exchange front-end weaknesses accounted for over 80% of stolen funds, while DeFi protocol-level exploits contributed 12%.

6. The attack on Iran’s Nobitex by Gonjeshke Darande, linked to Israel, exemplified crypto hacking as a geopolitical tool, with motives beyond financial gain.

Description

A new report by TRM Labs has revealed that 2025 has had the worst ever first half of the year in terms of hacks and exploits, with more than $2.5 billion stolen in that period. However, while the figure surpassed the previous H1 record set in 2022, the numbers were considerably skewed by just one incident, a $1.5 billion attack on Dubai-based crypto exchange Bybit. The Defining Breach The Bybit breach , which happened in February, was not just the largest crypto hack ever; it was a geopolitical ...

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