Cryptocurrency theft reached an unprecedented peak during the first half of 2025, according to Chainalysis's findings.
In the first half of 2025, the crypto world has witnessed a significant surge in criminal activities, as highlighted by the recently published Chainalysis Mid-Year Crypto Crime Report. The six-month period from January 1st to June 30th has seen more cryptocurrencies stolen from exchanges and services than any other year, according to the report.
The report does not specify the exact amount of cryptocurrencies stolen, but it does reveal that the cumulative value of funds stolen from these services has climbed above $2 billion. The largest hack, attributed to North Korean state actors, was the $1.5 billion theft from Bybit, making it the single largest crypto heist ever recorded, surpassing the 2022 Ronin bridge exploit.
Exchange hacks have been a major concern, with personal wallet hacks also emerging as a significant threat. Attacks on individuals, particularly targeting personal wallets, now represent roughly 23% of all stolen-fund activity, nearly doubling in two years. Criminals are employing sophisticated methods such as social engineering schemes, deepfake videos, and one-click malware to compromise personal wallets.
Violent crimes, known as "wrench attacks," involve force or coercion to obtain wallet keys. These incidents are on track to double previous records, with the U.S., Germany, and Russia having the highest number of victims. Asia is marked as a region with a significant violent crypto crime problem, with incidents like the abduction and murder of Elison Steel CEO Anson Que in the Philippines highlighting the dangerous nature of these crimes.
The report also reveals geographical and market trends. The United States, Germany, and Russia have been among the countries most affected by crypto crime, while Eastern Europe and parts of the Middle East have seen significant growth in wallet thefts. The increasing adoption of cryptocurrencies and higher asset prices are contributing factors to the rise in crypto crime, as they create a larger and more lucrative target for criminals.
Despite the increase in the investigative capacity of law enforcement agencies, the report finds that crypto crime has evolved, with criminals seeming to have found more sophisticated means to steal funds. The report does not identify the specific illicit actors responsible for the theft.
In conclusion, the Chainalysis Mid-Year Crypto Crime Report underscores the growing threat of crypto crime and the need for increased security measures in the cryptocurrency industry. If the current pace continues, total losses could reach $4 billion by the end of 2025, surpassing previous records. North America dominates the victim charts in terms of stolen bitcoin and altcoins, and the Bybit hack, carried out by suspected North Korean-sponsored actors, marks a resurgence in state-sponsored criminal activities onchain.
- The Chainalysis Mid-Year Crypto Crime Report indicates a surge in digital asset theft, with the cumulative value of stolen funds reaching above $2 billion, making 2025 a record year for crypto crime.
- While exchange hacks are a significant concern, personal wallet hacks have emerged as an equally threatening issue, representing nearly 23% of all stolen-fund activity.
- The report shows that violent crimes, known as "wrench attacks," are on the rise, with victims primarily in the U.S., Germany, Russia, and Asia, such as the case of Anson Que, the CEO of Elison Steel, who was abducted and murdered in the Philippines.
- Geographical trends reveal that the United States, Germany, and Russia are among the countries most affected by crypto crime, while Eastern Europe and parts of the Middle East have seen a growing problem with wallet thefts.
- The report suggests that crypto crime has become more sophisticated and resilient to investigations, with state-sponsored actors like those suspected in the Bybit hack emerging as a serious threat in the general-news and crime-and-justice landscape.
