Crypto hacks are a wake-up call for DeFi.
Opinion by: Orest Gavryliak, chief legal officer, 1inch Labs
The Bybit breach in February smashed the record for the biggest hack in crypto history. More than $1.4 billion was stolen by North Korean cybercriminals in the blink of an eye, with the audacious heist making headline news around the world.
Now, as TRM Labs reports, $2.1 billion worth of crypto has been lost to attacks in the first half of 2025. That’s an exorbitant amount of money, and yet, the hacks seem set to continue.
While close attention was paid to these brazen thefts, there hasn’t been enough scrutiny of how these hackers managed to launder the crypto holdings. Centralized exchanges (CEXs) and DeFi protocols have lessons to learn from these devastating incidents…
