Protect Your Crypto

This year’s been wild for hacks. We’re only halfway through 2025 and already more than $2.1 billion in crypto has been stolen, with the Bybit hack alone accounting for $1.5 billion. And here’s the kicker — it’s not just exchanges getting hit anymore. A growing share of these thefts is happening at the retail wallet level. Everyday users are being targeted.

So, while institutions can shrug off a breach as “cost of doing business,” if you’re a retail business and you get drained, that’s it. Game over.

Why It’s Getting Worse

• Attackers are getting smarter — phishing isn’t just a scammy email anymore. Hackers are using fake apps, fake Telegram groups, and even deepfakes to steal seed phrases.
  

• More liquidity, more targets — with ETFs live and fresh institutional inflows, crypto feels like a candy store for bad actors.
  

• Users aren’t ready — many retail investors jumped into crypto during this cycle without really understanding custody. Exchanges and hot wallets remain the primary destinations for most people's funds.

How to Protect Yourself (Practical Moves)

1. Cold Storage is King
   
   If you’re holding anything meaningful, buy a hardware wallet (Ledger, Trezor, Keystone, etc.) and keep your keys offline. Exchanges are not your savings account.
   

2. Split Custody
   
   Don’t put all your coins in one place. Keep trading funds on a CEX/DeFi wallet, but long-term holdings in cold storage. Treat it like asset allocation.
   

3. Seed Phrase Discipline
   
   Write it down, store it physically, and never — I mean never — type it into a website or app. If someone asks for your seed, they’re trying to rob you.
   

4. Multi-Sig & MPC
   
   For bigger bags, multi-sig (like Gnosis Safe) or MPC custody is worth the hassle. It’s harder for attackers to compromise multiple approvals.
   

5. Check Approvals
   
   Use tools like revoke.cash to regularly clear old DeFi permissions. Half the wallet drains happen because of dusty approvals that no one remembers.
   

6. Stay Skeptical Online
   
   If it’s a DM promising an airdrop, a new staking opportunity, or a link to claim something — assume it’s a scam until proven otherwise.

Final Word

The truth is, crypto security is a personal responsibility game. Institutions will continue to be targeted, and retail will remain the easiest target. However, if you take custody seriously — using cold wallets, multi-sig, and clean approvals — you significantly reduce your risk.

The market’s maturing, yes, but the bad guys are too. Don’t be the low-hanging fruit.