Crypto Theft Soars to New Heights Amid Prolific Laundering Cycle
Crypto theft has become a significant issue in the industry, with hackers stealing $3.4 billion in 2025 and topping $1 billion again in the first half of 2026.
The Bybit hack alone accounted for 44% of the total stolen funds in 2025, making it the largest crypto theft in history at $1.5 billion.
Researchers have identified a distinctive laundering cycle that runs roughly 45 days in three waves: swapping through DeFi protocols and mixing services (days zero to five), hopping chains via cross-chain bridges and exchanges with limited KYC checks (days six to ten), and cashing out in small tranches (days 20 to 45).
Lazarus-linked North Korean crews were behind about 55% of first-half losses, and CertiK's count puts the period's damage at $1.32 billion across 344 incidents.