Crypto Hacks Drop 52% in Q2 2025, But $2.47B Lost in H1 Signals Rising Threats

The first half of 2025 marked a troubling milestone for the cryptocurrency sector. Hackers, scammers, and exploiters stole $2.47 billion in losses across 344 incidents, surpassing the total 2024 Crypto hacks in six months.

According to CertiK’s report on July 2, 2025, Q2 saw a 52% decline in damages, falling to $801 million from Q1’s $1.67 billion across 144 incidents. The dip offers little comfort given the scale and nature of recent crypto hacks. Phishing attacks led to Q2 losses of $395 million.

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Lazarus Group Drives Largest Losses With Bybit Hack

The largest single theft in crypto history, attributed to North Korea’s Lazarus Group, involved attackers infiltrating the exchange’s cold wallet and stealing $1.5 billion in ETH. Lazarus Group alone accounted for $1.6 billion in damages in the first half of the year, according to TRM Labs.

CertiK’s July 2 report shows losses hit $2.47 billion in H1. Q2 saw some progress, but not enough to slow the overall rise in attacks. These state-linked hackers have used advanced tactics such as malware-laced fake job offers and shell companies to compromise critical infrastructure.

Following the Bybit breach, the FBI issued a directive urging crypto exchanges to block all wallet addresses tied to Lazarus Group activities, as part of a broader push to disrupt state-sponsored cybercrime.

Infrastructure attacks dominated the landscape, accounting for 80% of losses. These include private key and seed phrase thefts, many resulting from targeted phishing campaigns. June 18th $90 million Nobitex breach, linked to a politically motivated hacker group called Gonjeshke Darande, underscored the increasingly global and ideological motivations behind some attacks.

Phishing Scams and Wallet Breaches Now Lead Attack Methods

CertiK’s data shows that almost 70% of Q2 losses came from phishing scams and wallet breaches.

These attacks often pose as fake job offers, business deals, or giveaways to trick users into handing over private details. Instead of breaking into systems, hackers now target individuals, making it just as important for users to protect themselves as it is to secure the technology.

Ethereum remained the top target in Q2, with scammers using wallet drainers and fake front-end sites to steal funds. CertiK’s Q2 breakdown highlights how these threats are shifting toward user-level breaches.

Although Q2 saw a decline in damages, experts warn it may only be a brief break. Without better tools to identify threats in real-time and stronger cooperation between platforms, major attacks like the Bybit breach could happen again.

Some regions are already taking steps. Hong Kong is rolling out new rules, licenses, and tax breaks to attract big investors and boost security.

As crypto grows more popular, the focus must shift to protecting people, not just systems. With smarter hackers and global tension, keeping crypto safe is a growing challenge.