Blockchain security company TRM Labs said in the first half of 2025, $2.1 billion was stolen from crypto exchanges and other digital asset operations in at least 75 confirmed cyberattacks — a 10% increase compared to the previous record set in 2022. Some online criticized cryptocurrency companies for not being quicker about blacklisting addresses involved in criminal thefts, noting that the hacker briefly held nearly $30 million worth of USDC — the stablecoin controlled by corporate cryptocurrency giant Circle — before it was laundered further. GMX said it would not pursue litigation if the funds were returned — a dubious legal claim several cryptocurrency companies have made in an effort to coax hackers into returning stolen money. In a message to the hacker on the Ethereum blockchain, GMX acknowledged the incident and offered to pay them 10% of the stolen funds as a bounty if the other 90% was returned in 48 hours. Several blockchain security companies confirmed the theft, tracking about $43 million in user funds exiting the platform. Even when experts excluded the North Korean theft of $1.5 billion from Dubai-based exchange Bybit, the company tracked more than $100 million in losses in four out of all six months. The hacker laundered the stolen funds shortly after the theft, changing batches into ethereum as well as the U.S.-dollar pegged stablecoins USDC and DAI. Decentralized exchange GMX said more than $40 million worth of cryptocurrency was stolen during an incident on Wednesday morning. Two weeks ago, the decentralized finance platform Resupply was hacked and had $10 million in cryptocurrency stolen. GMX, which allows users to purchase and speculate on many different cryptocurrencies, published a statement on social media saying the company “experienced an exploit” and is conducting an investigation on how it occurred. The company and security experts offered technical advice to other connected platforms on how to protect themselves from the vulnerability.
This Cyber News was published on therecord.media. Publication date: Wed, 09 Jul 2025 17:30:22 +0000