Mid-year update: Crypto thefts top $2.17 billion in 2025, shows data
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Crypto thefts in 2025 had already crossed USD 2.17 billion before last week's USD 44 million CoinDCX hack , underlining relentless cyber threat escalation in the digital currency world, according to the latest data.Blockchain analytics platform Chainalysis ' 2025 crypto crime mid-year update says that over USD 2.17 billion was stolen from cryptocurrency services so far in 2025, and "this year is more devastating than the entirety of 2024".By the end of June 2025, 17 per cent more value had been stolen year-to-date (YTD) than in 2022, previously the worst year on record.The $1.5 billion hack of ByBit, the largest single hack in crypto history, accounts for the majority of service losses.So far in 2025, significant concentrations of stolen fund victims have emerged in the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, it said."Regionally, Eastern Europe, MENA, and CSAO (Central and Southern Asia and Oceania) saw the most rapid H1 2024 to H1 2025 growth in victim totals," it said.The report revealed that threat actors who have compromised services tend to exhibit higher levels of sophistication than those targeting personal wallets.At USD 1.5 billion, the ByBit hack not only represents the largest crypto theft in history, but also accounts for approximately 69 per cent of all funds stolen from services this year, Chainalysis said."The sophistication and scale of this attack underscore the evolving capabilities of state-sponsored threat actors in the crypto space, and comes after a notable slowdown in the second half of 2024," it added.The report assumes significance in the backdrop of Indian cryptocurrency exchange CoinDCX suffering a security breach, resulting in theft of USD 44.2 million, or Rs 378 crore.CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to reassure that customer funds remained unaffected and safe, with the compromise limited to an internal operational account.The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday.Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than USD 230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments.Among other notable cryptocurrency thefts are those involving Cetus Protocol, which saw losses estimated between USD 200-260 million in May this year, and BigONE, which suffered a theft of USD 27 million in July 2025.
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This can only mean that while India and Turkey have the potential to develop economic and commercial ties, Turkey's political orientations and also Erdogan's Islamic bent of mind and his larger-than-life image of himself will prevent their growth. The possibility of positive growth in India-Turkish ties is therefore bleak. The writer is a former Indian diplomat who served as India's Ambassador to Afghanistan and Myanmar, and as secretary, the Ministry of External Affairs. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.
