With the cryptocurrency market experiencing a significant upswing, incidents of crypto theft have reached unprecedented levels in the first half of this year. A new report indicates that the total funds stolen from crypto services have exceeded those from previous years.
On Thursday, Chainalysis released its "2025 Crypto Crime Mid-Year Update," revealing that the amount of digital assets stolen this year has already surpassed the entire theft volume of 2024, with over $2.7 billion taken from crypto services. The report highlights that by the end of June, the year-to-date theft had outstripped the same period in 2022, which was previously the worst year on record. This trend suggests that theft from crypto services could increase by as much as 60% by the end of the year.
The year-to-date activity for 2025 shows a concerning increase compared to previous years, reaching the $2 billion mark in just 142 days, whereas 2022 required 214 days to reach similar theft volumes. The report indicates that 2025's figures are 17.27% worse than those of 2022 during the same timeframe, while 2023 and 2024 exhibited more stable accumulation patterns. The alarming rise in cumulative theft from crypto services underscores the escalating threats facing the industry.
The report warns that if the current trend persists, 2025 could see over $4.3 billion stolen from crypto services alone. A significant portion of these losses can be attributed to the $1.5 billion hack of Bybit, which is the largest crypto hack in history. This breach highlights a broader trend of North Korean cryptocurrency operations, which have become integral to the regime's strategies for evading sanctions. Last year, losses linked to North Korean activities reached a record high of $1.3 billion, but the Bybit breach has since eclipsed this, marking 2025 as the most devastating year to date.
The report also emphasizes that the surge in crypto theft poses an immediate risk to individual users. Personal wallet attacks are becoming increasingly common, with such incidents representing 23.35% of all theft activities in 2025. Bitcoin (BTC) theft, in particular, constitutes a significant portion of the stolen value. Furthermore, the average loss from compromised personal BTC wallets has increased, indicating a targeted approach towards higher-value individual holdings.
Additionally, there is a rising number of victims from non-Bitcoin and non-EVM chains, such as Solana. This trend suggests that while Bitcoin holders may face larger losses, they are less likely to be specifically targeted for theft. The report also notes a troubling increase in violent personal wallet incidents, which appear to correlate with BTC price fluctuations, indicating that attackers are seizing opportunities during high-value periods.
Looking ahead, if the value of cryptocurrency assets continues to rise, the losses from personal wallets may also increase. The report predicts that theft involving physical violence or coercion, referred to as "wrench attacks," could potentially double compared to 2021, which was previously the highest year on record. As of now, Bitcoin is trading at $119,807, reflecting a 14.8% increase over the past month.
