Chain Retrieval Report: $2.24 Billion Stolen in Crypto Hacks During First Half of 2025

Crypto hacks in 2025 are off to a brutal start, with over $2.24 billion already stolen in the first half of the year, according to a new report by Chainalysis. That’s already nearing 2022’s full-year total and nearly double 2024’s first-half losses.

The report, called the Chain Retrieval Report, highlights a dangerous shift in both the scale and style of crypto-related thefts. January alone accounted for $482.9 million in losses, followed by May with $358.5 million and March with $322 million—making these the three worst-hit months so far.

This year, centralized finance (CeFi) platforms, not DeFi protocols, bore the brunt of the losses. CeFi platforms lost $1.19 billion, more than half of the total amount stolen, while DeFi protocols suffered $825.3 million in breaches. That marks a big reversal from previous years, where DeFi was usually the top target.

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Ethereum, BNB Chain, and Leaked Keys Drove the Damage

Ethereum and BNB Chain were the two most targeted blockchain networks in 2025, accounting for 71% of all stolen funds. Ethereum-based projects were hit hardest, seeing $1.25 billion in losses, while BNB Chain faced $470 million in attacks.

But what’s more worrying is how these hacks are happening. The #1 reason behind these thefts? Private key compromises. In fact, leaked or stolen private keys were involved in over 70% of the total losses, making them the top attack vector in 2025 so far.

This signals a deeper issue with wallet security and key management, especially on CeFi platforms. Hackers are no longer just exploiting smart contract bugs. They’re getting into systems using credentials, sometimes obtained through phishing, SIM swaps, or even insider leaks.

Here are some notable hacks from H1 2025:

• Munchables exploit (March): $62 million stolen due to insider compromise

• BitForex exit scam (February): Over $56 million vanished as the team went dark

• Fix Float hack (April): Around $26 million lost due to poor key storage

• Gala Games breach (May): Attacker minted $200 million worth of GALA tokens

Each of these cases involved either insecure key storage, insider involvement, or lax security audits, highlighting a systemic weakness in how digital assets are being managed.

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What This Means for the Future of Crypto Security

The spike in crypto hacks in 2025 paints a clear picture: the industry needs better key management, stronger security protocols, and more transparency.

As CeFi platforms grow, they must invest heavily in cybersecurity infrastructure. It’s no longer enough to rely on multi-signature wallets or bug bounty programs alone. Threat actors are evolving, and the crypto space needs to evolve faster.

At the same time, regulators and users need to demand higher standards from exchanges and wallet providers. Without fundamental changes, the second half of 2025 could be even worse.