The largest single breach came when North Korean hackers looted ByBit for $1.5 billion, marking the biggest crypto theft in history.
But beyond exchange hacks, a quieter and more alarming threat has emerged. Cybercriminals are now focusing on personal wallets, where users store their own funds. These attacks account for over 23% of all stolen crypto this year, signaling a major shift in how hackers operate.
As exchanges strengthen defenses with tighter compliance and better infrastructure, criminals have moved toward easier prey – individual holders. Self-custody wallets give users full control of their assets but no safety net if their private keys or recovery phrases are compromised.
Phishing scams, fake wallet apps, and AI-driven impersonations are becoming the tools of choice for attackers.
Experts say Bitcoin remains the biggest prize, but newer chains like Solana and Base are seeing more victims, often among inexperienced traders. Rising prices also magnify losses – each stolen wallet is worth more as markets climb.
The takeaway: self-custody requires self-defense. Users should rely on hardware wallets, strong passwords, and offline backups while avoiding storing recovery phrases online. Vigilance has become the only real safeguard in a market where one wrong click could turn anyone into the next headline in a multi-billion-dollar crime wave.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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