Blockchain security firm PeckShield has reported a significant increase in cryptocurrency hacking incidents for July 2025, with hacks rising by 27.2% compared to the previous month.
In July, malicious actors stole a total of $142 million as they intensified their efforts to exploit vulnerabilities within the crypto ecosystem.
July 2025 Sees a Sharp Increase in Crypto Hacks
In the latest post on X (formerly Twitter), PeckShield noted that 17 major hacks were recorded in July, amounting to losses of $142 million. This figure represents a reversal of the 56% decline in losses recorded in June ($111.6 million), when 15 major hacks were documented.
Nonetheless, the security firm identified five prominent incidents as the primary contributors to the total amount lost.
The Indian cryptocurrency exchange CoinDCX suffered the largest single loss. Hackers stole approximately $44.2 million by targeting an internal operational account.
“Today, one of our internal operational accounts – used only for liquidity provisioning on a partner exchange – was compromised due to a sophisticated server breach. I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe,” CoinDCX Co-founder and CEO Sumit Gupta said.
Notably, hackers installed malware on Rahul Agarwal’s laptop, a software engineer at CoinDCX, under the pretext of offering him a part-time job. Initially, Agarwal performed online tasks using his personal laptop, but later switched to his office laptop.
This allowed the hackers to infiltrate the system. While Agarwal reportedly claimed to be unaware of the theft, the Bengaluru police have arrested him in connection with the incident.
Meanwhile, the second largest contributor to the stolen funds in July was the GMX hack. BeInCrypto reported that the decentralized finance (DeFi) platform GMX experienced a $42 million exploit in early July.
“Notably, the GMX exploiter has returned ~$40.5 million worth of cryptos, including 10,000 ETH and 10.5 million FRAX,” PeckShield wrote.
Furthermore, BigONE exchange reported a $28 million loss, while WOO X and Future Protocol recorded breaches of around $12 million and $4.2 million, respectively, further illustrating the diverse targets of malicious actors.
July’s data aligns with the pattern of increasing crypto hacks this year. In H1 2025, the industry experienced over $2 billion in losses from crypto thefts, raising concerns among industry stakeholders about the adequacy of current security measures.
While some platforms, like CoinDCX, are introducing bug bounty programs to encourage ethical hacking and vulnerability reporting, the recurring nature of these incidents highlights the need for stronger safeguards.
The post Crypto Hacks Surge in July 2025: $142 Million Stolen, Up 27% from June appeared first on BeInCrypto.
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Kamina Bashir
https://beincrypto.com/crypto-hacks-july-2025-increase/
2025-08-01 09:51:39
