The cryptocurrency industry is facing a surge in losses from hacks and exploits exceeding $2.47 billion in the first half of 2025, according to blockchain security firm CertiK. While incidents have declined slightly in Q2 compared to the previous quarter, this figure represents a substantial increase over the entire year of 2024. The report attributes this rise to increased reliance on phishing scams targeting human errors despite advancements in blockchain security. 2025’s record-breaking losses are particularly significant due to the massive Bybit hack which remains the most expensive crypto exploit to date, highlighting concerns about the stability and vulnerability of decentralized finance (DeFi).