Blockchain intelligence company TRM Labs reported that in the first half of 2025, the majority of the cryptocurrency losses due to attacks were caused by vulnerabilities in crypto private keys and front-end compromises, totaling a value of $2.1 billion.
TRM Labs noted in a report on Thursday that of the 75 hacking incidents so far this year, over 80% of the stolen cryptocurrency was taken through so-called infrastructure vulnerabilities, with these attacks averaging ten times more than other types of attacks.
Infrastructure attacks target the technical backbone of systems to gain unauthorized control, mislead users, or reroute assets.
These attacks include hijacking the private seed phrases of crypto wallets or exploiting parts of the user interface of crypto protocols. "These methods exploit fundamental weaknesses in crypto systems, often amplified through social engineering techniques."
Another major successful attack vector is protocol vulnerabilities, including flash loans and reentrancy attacks, which accounted for 12% of the losses in the first half of the year.
TRM Labs explained, "These attacks target vulnerabilities in the smart contracts or core logic of blockchain protocols to extract funds or disrupt system behavior."
Overall, losses in the first half of 2025 have exceeded the record set in 2022 by about 10%, nearly equaling the total losses of 2024. TRM Labs stated that this "highlights the increasingly concentrated threats to digital assets."
North Korea's $1.5 billion hack of the Dubai-based cryptocurrency exchange Bybit in February accounted for nearly 70% of the total losses so far in 2025.
This attack also pushed the average size of hacks to nearly $30 million, double the average of $15 million in the first half of 2024.
However, according to TRM Labs data, the total theft amounts in January, April, May, and June still exceeded $100 million.
The pro-Israel hacker group Gonjeshke Darande, also known as Predatory Sparrow—possibly linked to the Israeli government—also raised the average, as it attacked Iran's largest cryptocurrency exchange Nobitex on June 18, stealing $100.
" The first half of 2025 marks a critical turning point for cryptocurrency hacking: the strategic intentions of state actors and other geopolitically motivated groups have escalated," TRM Labs stated.
TRM Labs emphasized that the crypto industry needs to strengthen basic security measures such as multi-factor authentication, cold storage, frequent audits, and prioritize internal threat detection and advanced social engineering countermeasures.
It added that there is also a need for "multifaceted cooperation" between global law enforcement agencies, financial intelligence units, and blockchain intelligence companies.
"The record thefts in the first half of 2025 are a clear call to action for a collective, sustained, and strategically aligned security posture—not only to prepare for crime but also to prepare for covert state actions," TRM Labs stated.
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Original: “TRM Labs: Crypto Seed Phrase and Front-End Attacks Drive Record Losses in 2025”
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