$142 Million Lost to Crypto Hacks in July: Protect Your Funds with Best Wallet

That pushes this year’s total losses past $3.2 billion, already higher than 2024’s full-year tally with five months still to go.

Crypto hackers haven’t taken a summer break. In July alone, 17 separate attacks drained over $142 million from exchanges and platforms – a 27% jump from June.

And the methods? They’re getting sneakier – less about buggy code, more about tricking people and breaching systems behind the scenes. That’s why many investors are turning to solutions like Best Wallet, a crypto wallet that combines enterprise-grade security with simplicity.

Crypto Hacks Spike in July as Attackers Target People, Not Code

July was a brutal reminder that crypto security is still fragile. CoinDCX’s $44 million breach started with a simple trick – fake recruiters convincing a software engineer to install malware. While the hackers spared customer accounts, they still accessed an operational wallet with devastating results.

WOO X’s $14 million loss came through a compromised employee computer, while BigONE lost $27 million through backend infrastructure gaps. Notice the pattern? These weren’t zero-day exploits, but textbook examples of attackers targeting the human element – the persistent weak spot in any security system.

NEW: Crypto hacks in July totaled $142M with the largest being CoinDCX’s $44.2M hack, according to PeckShield. pic.twitter.com/kYp7PGb9X7

— crypto.news (@cryptodotnews) August 1, 2025

The playbook has changed: Hackers now prefer phishing, social engineering, and backend breaches instead of attacking smart contract code. Why waste energy cracking the vault when you can befriend the clerk who holds the keys?

While $142 million in losses sounds alarming, it’s actually becoming normal. After early 2025’s megahacks (like Bybit and Cetus), July represents the new baseline – frequent, multi-pronged attacks proving that crypto’s security challenges have outpaced many platforms’ defenses.

One thing is clear – wallets and exchanges need to evolve faster than the threats. Otherwise, they’ll become just another statistic.

WalletConnect Certification Shows Best Wallet’s Commitment to Security

Security is no longer a luxury – it’s the price of entry. That’s what makes Best Wallet’s WalletConnect Certification so important. By meeting the same rigorous standards as MetaMask and Trust Wallet, the platform proves its ability to balance security with usability. That’s a rare combination.

For both veterans and beginners, this certification matters. As tokenized assets and stablecoins go mainstream, wallets need to defend against the phishing and backend attacks seen last month without sacrificing simplicity. Best Wallet archives this through biometric locks, hardware integration, and real-time threat monitoring.

WalletConnect certification for Best Wallet

All of these features are built into an interface that anyone can navigate. And this could be the key to avoiding disaster and not ending up as another cautionary crypto tale.

Given that WalletConnect’s “WalletGuide” highlights only the most reliable options, Best Wallet’s inclusion sends a clear signal. Whether you’re trading meme coins or managing RWAs, this wallet actively protects your assets.

Beyond Security – What Else Does Best Wallet Bring to the Table

Best Wallet is an all-in-one hub for everything Web3. Picture this: one mobile app that lets you manage multiple blockchains and thousands of tokens, from buying and staking to instant swaps through its built-in DEX. That means no more switching between platforms just to execute a trade.

The features don’t stop there. Best Wallet’s “Upcoming Tokens” launchpad gives you access to vetted presales before anyone else. Some examples of presale projects that the launchpad has highlighted include Solaxy, Catslap, and Crypto All-Stars.

Breakdown of Best Wallet’s key features

Looking to cash in on your crypto? You can easily convert it to cash using GBP through debit cards, PayPal, or even Apple Pay. The process is much simpler than going through traditional exchanges.

And holding the native $BEST token turns your wallet into a rewards machine. Holders get staking yields, presale whitelist spots, fee discounts, and even 8% cashback when the wallet’s debit card launches. Most wallets just store your crypto – Best Wallet helps you grow it.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.