During the first half of 2025, an analysis has emerged showing that cryptocurrency hacking damages worldwide have already exceeded the total damages from the previous year. According to a report by Swiss blockchain analysis firm Global Ledger, a total of $3.01 billion worth of cryptocurrency was stolen through 119 hacking incidents in the first half of this year. The more significant issue is the speed of the crime rather than the scale of damage.
The report tracked the time taken from the hacking occurrence to money laundering through mixers, bridges, and centralized exchanges (CEX) based on on-chain data. The analysis revealed that recent hackers are completing asset laundering within just a few minutes after hacking, often finishing the entire process before the breach is even publicly disclosed.
In fact, approximately 23% of all incidents were already laundered before the hacking was made public. In most cases, by the time victims became aware of the hack, the funds had already been dispersed and moved. Due to this time gap between the hacking and reporting, recovery of damages is nearly impossible.
The fastest case analyzed in the report saw funds moved just 4 seconds after the hacking, with the entire laundering process completed within 3 minutes. Overall, funds were moved within an average of 15 hours after the hacking, while it took an average of 37 hours for the incident to be first disclosed to the public. This means hackers can move approximately 20 hours ahead of the damage disclosure.
Additionally, in 68.1% of the cases, funds had already been moved before official announcements through media reports, social media, or warning systems. Consequently, only 4.2% of the assets stolen in the first half of 2025 were actually recovered.
The report also highlighted the role of centralized exchanges (CEX). 15.1% of laundered cryptocurrencies in the first half of this year passed through CEX. CEX remains the primary entry and vulnerability point preferred by hackers. In 2025, 54.26% of total hacking damages were through centralized exchanges, significantly higher than Token smart contract vulnerabilities (17.2%) or personal wallet theft (11.67%).
CEX internal compliance teams typically need to identify and block suspicious transactions within 10-15 minutes to prevent losses. Consequently, discussions about new responsibilities are growing, reflecting the interest of regulatory authorities. There is an increasing need for CEX and virtual asset service providers (VASP) to establish more rapid and organic response systems to counter rapidly evolving hacking methods.
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