# Massive $2.24 Billion Lost in Crypto Hacks During H1 2025 – Shocking Report by Finbold
The cryptocurrency realm experienced significant turbulence in the first half of 2025, witnessing a staggering loss of $2.24 billion to cyber hacks between January and June. This revelation stems from the Finbold H1 2025 Cryptocurrency Report, drawing insights from data meticulously monitored by blockchain security specialist, SlowMist.
## Major Incidents Behind the Skyrocketing Losses
The colossal $1.5 billion breach of the Bybit wallet stands out as the headline-grabbing heist, maintaining its stature as the most significant crypto hack of the year to date. Other notable incidents contributing to the financial mayhem include a $230 million drain from a contract vulnerability at Cetus Protocol, a $100 million rug pull at LIBRA, as well as security loopholes exploited at Nobitex ($90M) and UPCX ($70M).
## Distribution of Losses Across Quarters
Interestingly, the majority of the looted funds were siphoned off during Q1, amounting to a jaw-dropping $1.77 billion in losses. Conversely, the figures paint a different picture for Q2, with the hack volume plummeting to $465 million, hinting at potentially enhanced security measures at exchange levels or a momentary lull in cyber attacks. However, it’s essential to note that the decline in Q2 statistics might also be influenced by delays in incident reporting.
## Dominance of Bybit in Q1 Losses
In the first quarter alone, the Bybit breach accounted for a significant portion – nearly 85% of the overall losses. Subsequent incidents in the same quarter involved Infini, experiencing a $50 million loss due to lax access control, alongside contract vulnerabilities at Abracadabra Money ($13M) and zkLend ($9.6M).
## Future Outlook and Cautions
Although the slowdown in Q2 offers a glimmer of hope, analysts caution that this respite could be short-lived. The crypto landscape continues grappling with systemic vulnerabilities, especially within DeFi protocols and exchange custody mechanisms, leaving billions exposed to risks. The key takeaway remains crystal clear – both investors and platforms must uphold heightened vigilance. In the evolving crypto ecosystem, security isn’t an optional add-on; it’s an absolute necessity.
### Conclusion
The alarming figures disclosed in the Finbold report serve as a stark reminder of the persistent threat posed by cyber hacks in the crypto space. As stakeholders navigate through the ever-evolving terrain of digital assets, prioritizing robust security measures stands paramount to safeguarding investments and fostering trust within the ecosystem. Stay informed, stay secure, and stay vigilant in the dynamic world of cryptocurrencies.
*This post was originally published on Finbold.*