Crypto Hacks Surge in H1 2025, Surpassing 2024 Losses as CertiK Logs $184M in Recoveries

In a startling new report, CertiK reveals a significant rise in cryptocurrency hacks in early 2025. The data shows alarming trends, including a staggering $2.2 billion in losses already this year.

Crypto Hacks on the Rise with New Tactics

Emerging trends within the cryptocurrency space are worrying, as reports indicate a significant rise in crypto hacking cases. According to CertiK, a blockchain security firm, hackers are now employing sophisticated tactics, primarily utilising social engineering to manipulate victims into revealing sensitive information, rather than focusing solely on exploiting contract vulnerabilities. With this shift, more than $2.2 billion has already been stolen in 2025, surpassing the losses experienced throughout the entirety of 2024.

Major Incidents Amplify Losses

The report outlines that a concerning portion of the total losses stems from phishing attacks and compromised wallets. Major incidents have contributed substantially to hacking statistics, as some attacks can be traced back to state-supported hackers or issues rooted in critical infrastructure. For instance, the hacking of Bybit and Cetus Protocol significantly distorted the losses reported, collectively accounting for approximately $1.78 billion, thus elevating the figures well above those of previous years.

High-Profile Hacks Cause Major Losses

To illustrate, Bybit experienced the most devastating assault on its assets in February, resulting in a staggering $1.5 billion loss. Cetus Protocol, a decentralised exchange on Sui, was also targeted via a clever scheme that involved spoofed tokens and price manipulation, which led to a loss of $225 million. Fortunately, Sui validators managed to freeze $162 million of the stolen funds, but overall losses remain severe.

Wallet Compromises and Engineering Threats

In the face of this, CertiK has noticed alarming trends in wallet compromises, which resulted in losses of $1.7 billion from just 34 incidents between January and June 2025. Even as some types of private key compromises seem to be declining, social engineering remains a pressing threat in the crypto landscape. In one instance, a Bitcoin whale lost a jaw-dropping $330 million due to a phishing scheme that tricked him into sending assets to a fake address.

Ethereum Remains The Target

The report does suggest that when excluding the particularly damaging attacks on those two exchanges, the total losses align more closely with last year’s figures, totaling around $690 million. Notably, Ethereum emerged as the most exploited blockchain, experiencing 175 security-related incidents contributing to over $1.6 billion in losses. Nonetheless, the numbers highlight how the landscape continues to shift with each passing week as attackers develop newer, sharper methods.

Physical Attacks Increase Against Crypto Holders

Beyond hacking, physical violence against cryptocurrency holders is becoming more common, with reports marking 2025 as potentially the deadliest year yet. Jameson Lopp, an advocate for bitcoin security, noted an increase in wrench attacks, especially in France, where authorities recently made arrests in connection with a kidnapping ring. These physical threats add an unsettling layer to the already precarious world of crypto investments, exemplifying the extreme lengths scammers might go.

Crypto hacking incidents are escalating at an alarming rate, driven by ingenious social engineering tactics. With more than $2.2 billion lost in just the first half of 2025, the scale of cybercrime in this space is unprecedented. As hackers adapt, investors must remain vigilant and informed about the changing landscape of crypto security.