Crypto hacks hit record highs in 2025, with $2.2 billion stolen in the first half of the year, pushing investors toward hardware wallets like Ledger and Trezor for safer crypto storage.

Crypto-related thefts hit historic levels in early 2025, with blockchain analytics firm Chainalysis estimating that more than $2.17 billion in crypto was stolen in the first half of the year, driven largely by a few very large centralized exchange and protocol breaches. This surge in high‑profile hacks has renewed focus on self‑custody and pushed more users toward hardware wallets such as Ledger and Trezor as an alternative to keeping funds on exchanges or in always‑online “hot” wallets. According to Chainalysis’ 2025 mid‑year crime update, the single largest incident was the Bybit hack on 21 February 2025, where attackers stole roughly $1.5 billion in crypto, making it the biggest exchange theft on record and accounting for the majority of losses in H1 2025. Other notable incidents over the period included major exploits affecting centralized exchanges and DeFi platforms, bringing total theft above $2.17 billion before year‑end losses later pushed the annual figure higher. Analysts highlight that most of the largest thefts still involve hot wallet vulnerabilities at centralized services, reinforcing the perceived relative safety of offline key storage. This environment has strengthened the narrative around self‑custody and operational security in crypto. Hardware wallets from vendors like Ledger and Trezor store private keys offline and require physical confirmation of transactions, reducing exposure to many of the vectors seen in exchange and smart‑contract hacks. While hardware devices do not eliminate all risks—users remain vulnerable to phishing, supply‑chain compromise, or poor backup practices—the combination of record‑breaking 2025 thefts and ongoing attribution of large hacks to state‑linked groups has led both retail and professional users to reconsider counterparty risk and bolster their storage setups with dedicated hardware devices.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• Top Crypto Hacks, Scams and Exploits in 2025 (So Far) - CCN.com (ccn.com)
• The 10 Biggest Crypto Hacks in History - Crystal Intelligence (crystalintelligence.com)
• The ByBit Heist and the Future of U.S. Crypto Regulation - CSIS (csis.org)
• 2025 Crypto Theft Reaches $3.4 Billion - Chainalysis (chainalysis.com)
• 2025 Crypto Crime Mid-Year Update - Chainalysis (chainalysis.com)

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