Seventeen incidents drove a 27% month-over-month increase in losses.
Cryptocurrency hacks spiked in July, with 17 major incidents leading to total losses of approximately $142 million, according to data from blockchain security firm PeckShield.
The figure represents a 27.2% increase compared to June’s $111.6 million, PeckShield revealed in a post on X, formerly Twitter. Among the high-profile breaches, the CoinDCX hack was the largest, with losses of $44.2 million.
Close behind was the GMX exploit, which initially caused a $42 million loss, though the attacker later returned roughly $40.5 million in crypto, including 10,000 ETH and 10.5 million FRAX tokens. Other significant attacks included a $28 million breach at BigONE Exchange, a $12 million loss at WOOX, and a $4.2 million hack involving FutureProtocol.
The rising trend in crypto theft highlights the persistent security challenges faced by exchanges and decentralized platforms. The findings also underscore the need for comprehensive defenses and risk management in the rapidly evolving digital asset landscape.
Mitchell Amador, CEO of Immunefi, said in comments shared with The Defiant that crypto platforms need a unified security stack – one that integrates automation and intelligence across the entire lifecycle, “from CI/CD pipelines to on-chain monitoring and firewalls.”
“This means using AI-powered agents for constant vulnerability scanning and immediate threat detection, rather than waiting for human intervention,” he added. “For example, by using extensive collections of known vulnerabilities, platforms can train AI models to spot unusual activity and stop threats before they cause damage.”
In June, crypto hacks briefly slowed down, dropping 56% from May, PeckShield noted in a post on X at the time. But that month was also marked by a major attack on Iranian exchange Nobitex, which lost $82 million in a breach linked to Israeli hackers.
Other June hacks included ResupplyFi ($9.6 million), ALEXLabBTC ($8.4 million), ForceBridge ($3.8 million), and a $3.2 million Solana wallet drain.
Source: https://thedefiant.io/news/research-and-opinion/crypto-hack-losses-surge-to-usd142-million-in-july-peckshield