|
Getting your Trinity Audio player ready...
|
Key Takeaways:
- Crypto hack losses surged to $142M in July, up 27% from June.
- CoinDCX suffered the largest breach with $44M stolen.
- Hackers increasingly target backend and offchain systems.
The Crypto sector lost at least $142 million in July 2025 across 17 separate attacks, according to blockchain security firm PeckShield. The figure marks a 27% increase from June’s $111 million in losses, though it remains 46% lower than July 2024, when hackers stole $266 million.
#PeckShieldAlert In July 2025, ~17 major crypto hacks were recorded, resulting in total losses of $142M—a 27.2% increase (from $111.6M in June). Notably, the #GMX exploiter has returned ~$40.5M worth of cryptos, including 10K ETH and 10.5M $FRAX.#Top5 Hacks in July 2025:… pic.twitter.com/Y5VLUILq5Z
— PeckShieldAlert (@PeckShieldAlert) August 1, 2025
Notably, attackers increasingly targeted offchain systems and internal infrastructure, signaling a shift away from traditional smart contract exploits.
CoinDCX Breach Tops List With $44 Million Loss
The largest attack of the month struck Indian crypto exchange CoinDCX, which suffered a $44 million breach on July 18. CEO Sumit Gupta described it as a “sophisticated server breach.” Authorities arrested a CoinDCX employee in connection with the hack, suggesting insider involvement.
The second-largest incident occurred just a week earlier, when decentralized exchange GMX was exploited for $40 million. However, in a surprising turn, the attacker returned the stolen funds days later.
Other Major Breaches: BigONE and WOO X
On July 16, exchange BigONE reported a $27 million loss after its hot wallet infrastructure was compromised in a third-party attack.
WOO X, a crypto trading platform, was hit on July 24 through a phishing scheme that compromised a team member’s device. Halborn Security’s chairman Rob Behnke said the attacker leveraged access to backend systems to drain user accounts over two hours. The platform later reimbursed affected users from its treasury.
Hackers Targeting Infrastructure Over Code
Security experts note a growing trend of hackers focusing on offchain infrastructure, including backend systems and developer environments. Unlike smart contract exploits, which are typically caught during audits, these attacks exploit human and systemic weaknesses.
Also Read: Woo X Launches Fairer Copy Trading – 30% More Accurate Returns And 50% Fewer Misleading Trades
“With DeFi hackers becoming more sophisticated, it’s critical for projects to bolster backend security and implement stricter operational controls,” Behnke warned.
While July’s $142 million in crypto losses reflects an ongoing security challenge, the nature of these attacks underscores a deeper issue: the vulnerability of backend systems and insider threats. As the ecosystem matures, enhanced internal security and staff training are becoming as essential as smart contract audits.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
