- Record crypto theft in 2025 driven by North Korean hacks.
- Bybit hack loses $1.5 billion.
- DeFi protocols hit by North Korean and Israeli attackers.
In the first half of 2025, cybercriminals, including state-sponsored actors from North Korea, stole a record $2.1 billion in cryptocurrency across 75 reported hacks.
The 2025 theft highlights intense vulnerabilities in cryptocurrency systems, with geopolitical interests driving these acts. Market reactions include notable shifts in investor confidence.
Bybit experienced a substantial breach in February 2025, resulting in $1.5 billion losses attributed to North Korean actors. TRM Labs, Blockchain Intelligence Firm, noted, “The Bybit attack redefined the threat landscape. It underscored how cryptocurrency theft has evolved into a tool of statecraft.” Gonjeshke Darande, an Israel-linked group, allegedly breached Nobitex, stealing $90 million. Such activities illustrate evolving geopolitical threats leveraging cryptocurrency.
Cryptocurrency exchanges, particularly Bybit and Nobitex, became primary targets, significantly affecting prominent assets like ETH and BTC. DeFi protocols also witnessed numerous breaches, exacerbating concerns over industry safety and security. Crypto hacks lead to $2.1B in stolen seed phrases and fronts.
Substantial financial impact was apparent as Total Value Locked (TVL) in DeFi protocols plummeted post-attacks, amid liquidity shifts from compromised venues to safer alternatives. Investor reactions, shaking confidence, lead to declining liquidity post-hacks and propel preventative actions by exchanges.
Future outcomes may see enhanced regulatory scrutiny on cryptocurrency frameworks, alongside technological innovations for improved security. Historical patterns, especially involving North Korean actors, suggest more robust safeguards in cryptography systems are critical, pressing industry-wide changes for heightened resilience.
