The reason is a $1.5 billion hack against crypto exchange ByBit earlier this year, blockchain intelligence company Chainalysis said Thursday (July 17) in its 2025 Crypto Crime Mid-Year Update.
“With over $2.17 billion stolen from cryptocurrency services so far in 2025, this year is more devastating than the entirety of 2024,” the update said, adding that the ByBit incident, the largest single hack in crypto history, makes up most of the losses.
“By the end of June 2025, 17% more value had been stolen year-to-date than in 2022, previously the worst year on record,” the update said. “If current trends continue, stolen funds from services could…
Jul 17 2025
