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Global Crypto Heists Surge to $2.1Bn in H1 2025 as Digital Assets is Weaponised

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In a sobering revelation of the evolving threat landscape facing the digital asset ecosystem, blockchain intelligence firm TRM Labs has disclosed that over $2.1 billion worth of cryptocurrency was stolen in the first half of 2025 alone, spanning at least 75 high-profile hacks and exploits.

Global Crypto Heists Surge to $2.1Bn in H1 2025 as Digital Assets is Weaponised

This staggering figure marks a 10 per cent surge over the previous first-half record set in 2022 and nearly eclipses the total stolen in all of 2024.

But beyond the monetary scale, the report reveals a deeper concern: a growing trend of state-sponsored cyber aggression weaponising  crypto assets for strategic and geopolitical purposes.

The most devastating breach to date occurred in February when Dubai-based exchange Bybit lost $1.5 billion—the largest  crypto heist in history.

TRM Labs attributes the attack to North Korean state actors, noting that the incident alone accounted for nearly 70 percent of total losses during the period and doubled the average hack size to $30 million.

“The Bybit hack redefined the threat landscape,” the report stated.

“It exemplifies how digital asset theft has transcended criminal opportunism and morphed into a tool of statecraft.”

Indeed, North Korea-linked entities were responsible for an estimated $1.6 billion of the total stolen, further entrenching Pyongyang’s status as the most prolific nation-state threat actor in the crypto sphere.

Yet the menace is diversifying. On June 18, Iranian crypto exchange Nobitex was breached for over $90 million by a group reportedly linked to Israel, Gonjeshke Darande (Predatory Sparrow).

Unusually, the stolen funds were routed to unusable vanity addresses, underscoring symbolic and political motives rather than financial gain.

TRM Labs flagged this as a “disturbing shift,” with digital asset theft increasingly deployed as a weapon in asymmetric geopolitical conflict.

The report also found that more than 80 percent of losses stemmed from infrastructure breaches, including private key theft, seed phrase leaks, and front-end compromises— attacks typically ten times costlier than other vectors.

Meanwhile, DeFi exploits such as flash loan manipulations accounted for 12 percent of losses, reflecting persistent smart contract vulnerabilities despite years of scrutiny.

As digital currencies become enmeshed in global rivalries, TRM Labs warns that conventional cybersecurity approaches are now inadequate.

“Massive breaches, often tied to nation-state operations, require a new defence paradigm,” the firm asserted, urging industrywide adoption of advanced safeguards and cross-border collaboration among regulators and law enforcement.


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Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

E-Business

Galaxy Backbone Celebrates the Federal Government’s Paperless Civil Service Milestone

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Galaxy Backbone (GBB) aligns with and celebrates the successful announcement by the Office of the Head of the Civil Service of the Federation on the achievement of a Paperless Civil Service, a significant milestone in Nigeria’s public sector reform and digital transformation agenda.

The milestone was formally highlighted at a press briefing led by the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, who commended Galaxy Backbone for its sustained support and contribution throughout the implementation of the programme.

GBB has played a critical role in enabling this transition by providing secure, scalable, and shared digital infrastructure that supports the digitisation of government processes across Ministries, Departments and Agencies (MDAs). Through the 1Government Cloud, MDAs have been empowered to migrate from paper-based workflows to digital platforms, improving efficiency, collaboration, data security, and service delivery across the Federal Civil Service.

In addition, GovMail, GBB’s secure government email platform, has strengthened official communication, enhanced records management, and reinforced cybersecurity standards—key pillars in sustaining a paperless operating environment.

Galaxy Backbone acknowledges the collective efforts of the Office of the Head of the Civil Service of the Federation, Permanent Secretaries, Directors of ICT, consultants, partners, and dedicated public servants whose commitment and collaboration ensured the smooth delivery of this initiative.

The Managing Director/Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, was represented at the press briefing by Akintayo Bamisaye, Acting Group Head, Research, Digital Innovation and Skills Department (RDIS).

GBB describes the achievement as a strong close to 2025 and reaffirms its commitment to supporting the Federal Government in building a modern, efficient, and digitally enabled public service.


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Jumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity

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At the close of 2025, Temidayo Ojo, the CEO of Jumia Nigeria, reflected on a year-end shopping season that points to the growing maturity of the country’s e-commerce market. “Black Friday is no longer a single, short-lived spike in activity,” he said.

“It has become a familiar, anticipated moment in the retail calendar, where consumers shop deliberately and with confidence.”

Preliminary KPIs for the two months ended November 30, 2025, show strong year-on-year growth in both orders and Gross Merchandise Value (GMV), with GMV growth outpacing order growth. This indicates that customers are placing fuller, more considered baskets rather than shopping in fragmented transactions. Nigeria ranked among Jumia Group’s better-performing markets, with engagement remaining steady throughout the Black Friday period rather than spiking briefly and tapering off.

A key factor behind this performance is the growing familiarity of consumers with online shopping. Customers are increasingly leveraging platform features such as saved carts, brand stores, and price comparison tools to plan purchases in advance. This trend suggests that digital commerce is becoming embedded in everyday habits rather than being viewed as a one-off event.

Ojo also highlighted the role of Jumia’s JForce network in connecting digital commerce to local communities. “Our agents are critical to ensuring that customers across Nigeria, including secondary cities and smaller communities, have access to variety, consistent pricing, and reliable delivery,” he said. “During peak periods like Black Friday, JForce agents can respond faster, serve more customers efficiently, and build stronger local relationships. This isn’t just a distribution channel—it’s a pathway to sustainable income and inclusion.”

Reflecting on the overall performance, the CEO concluded: “What we’re seeing this year-end is steady engagement across categories, stronger consumer confidence, and partners like our JForce agents benefiting from increased activity.

“It confirms that Nigeria’s e-commerce ecosystem is maturing, growing in a more structured and resilient way. As the December Holiday Sale continues, we expect these patterns of familiarity, trust, and participation to sustain momentum and drive both commerce and community impact across the country.”


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Galaxy Backbone Tops FG’s Website Performance Ranking

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Galaxy Backbone Limited (GBB) has been ranked first overall in the 2025 Federal Government Website Performance Scorecard.

Galaxy Backbone Tops FG's Website Performance Ranking

This is a landmark achievement for Nigeria’s digital economy.

The ranking, conducted by the Bureau of Public Service Reforms (BPSR), is the definitive benchmark for digital excellence and transparency across all Ministries, Departments, and Agencies (MDAs).

Professor Ibrahim Adepoju Adeyanju, managing director and CEO of Galaxy Backbone, received the award during a ceremony in Abuja.

He described the feat as a validation of the agency’s“Nigeria First”data sovereignty strategy and its relentless pursuit of service excellence.

This recognition comes as the Federal Government intensifies its push to achieve a fully paperless civil service by December 31, 2025.

GBB has been the primary architect of this transition through its 1Gov Enterprise Content Management (ECM) platform, which now hosts the operations of almost all federal MDAs.

The award adds to a growing list of accolades for Galaxy Backbone in 2025, following its recent win of the “International Standard Excellence Award for Best IT Service Provider.”

As the central hub for government shared services, GBB’s performance serves as a blueprint for other agencies currently undergoing digital transformation.

With its expanded fiber-optic backbone now covering over 13 states and its secure cloud solutions, Galaxy Backbone remains the cornerstone of Nigeria’s vision to become a leading digital nation by the end of the decade.

 


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