The Crypto Industry faced another turbulence of the year as $2.24 billion lost to hacks between January and June 2025, and $2.24 billion lost $2.24 billion between January and June 2025, citing data tracked by blockchain security company Slowmist, according to the Finbold H1 2025 Cryptocurrency Report.
The damage was caused by a small number of major incidents, particularly a $1.5 billion Buybit Wallet violation.
Other major losses include $230 million from contract vulnerabilities in the CETUS protocol, $100 million lagpur in Libra, and security flaws exploited in Nobitex ($90 million) and UPCX ($70 million).
Interestingly, the majority of the stolen funds were released in the first quarter, showing a loss of $1.777 billion. In contrast, the second quarter hack volume dropped significantly to $465 million, improving exchange level security or attacker fatigue, but may reflect delays in incident reporting.
Bybit accounted for 85% of all first quarter losses
In Q1 alone, bibit violations account for nearly 85% of the losses. Additional incidents included Infini, who lost $50 million due to lack of strict access controls, and misuse of contracts with Abracadabra Money ($13 million) and Zklend ($9.6 million).
A slowdown in Q2 provides optimism, but analysts warn that the grace may be temporary. Cryptospace continues to face systemic vulnerabilities, particularly in debt protocols and exchange custody, putting billions at risk.
Take it home? Investors and platforms must be on the same level of alert. As the crypto economy matures, security is no longer a feature, it is a prerequisite.
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