Crypto security: Crypto thefts in 2025 surpass $2.17 billion; India’s CoinDCX breach adds to global surge driven by ByBit mega heist

The cryptocurrency world is grappling with an unprecedented wave of thefts in 2025, with stolen funds already surpassing a staggering $2.17 billion in the first half of the year. This alarming figure, which eclipses the entire loss recorded in 2024, is largely attributed to the colossal $1.5 billion ByBit mega-heist and is further exacerbated by recent incidents, including a significant breach at India’s CoinDCX.

According to a mid-year crypto crime report by blockchain analytics firm Chainalysis, the $1.5 billion ByBit exploit, executed in February, stands as the single largest crypto theft in history, accounting for nearly 69% of all crypto service thefts in 2025. This sophisticated attack underscores the evolving capabilities of threat actors, including state-sponsored groups, in targeting digital asset platforms.

Adding to the global surge, India’s CoinDCX recently confirmed a security breach resulting in the theft of approximately $44.2 million (Rs 378 crore). While CoinDCX has assured users that all customer funds remain secure and that the loss will be absorbed entirely by the company’s treasury reserves, the incident highlights the persistent vulnerabilities even in established exchanges. This comes less than a year after another major Indian exchange, WazirX, lost over $230 million in a cyberattack, prompting renewed scrutiny of crypto platform security in the nation.

The rapid escalation in crypto thefts is particularly concerning, with 2025 reaching the $2 billion mark in just 142 days, compared to 214 days in 2022, previously the worst year on record. Beyond the large-scale exchange hacks, there’s also a growing trend of attackers targeting individual users, with personal wallet compromises now representing a significant share of total ecosystem theft.

Major victim regions this year include the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, while Eastern Europe, MENA, and Central and Southern Asia and Oceania (CSAO) have seen the most rapid growth in the number of victims. Other notable global hacks in 2025 include Cetus Protocol (losses of $200–260 million) and BigONE ($27 million).

The surge in these illicit activities not only poses an immediate threat to ecosystem participants but also presents a long-term challenge to the industry’s security infrastructure and, critically, to investor confidence. As stolen funds are projected to potentially reach $4 billion by year-end, the crypto industry faces a critical inflection point, demanding enhanced security measures and robust regulatory frameworks to safeguard digital assets and foster trust in the burgeoning market.