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The crypto industry faced another turbulent first half of the year, with $2.24 billion lost to hacks between January and June 2025, according to the Finbold H1 2025 Cryptocurrency Report, citing data tracked by blockchain security firm SlowMist. The damage was driven by a handful of large-scale incidents, most notably the $1.5 billion Bybit wallet breach, which remains the largest crypto hack of the year so far. Other major losses included $230 million from a contract vulnerability at Cetus Protocol, a $100 million rug pull at LIBRA, and security flaws exploited at Nobitex ($90M) and UPCX ($70M). Interestingly, the bulk of the stolen funds were drained in Q1, which saw $1.77 billion in losses. By contrast, Q2 hack volume dropped significantly to $465 million, suggesting improved exchange-level security or attacker fatigue, though it may also reflect a lag in incident reporting. Bybit accounted for 85% of all Q1 losses In Q1 alone, the Bybit breach accounte...