Crypto Hacks Surge 27.2% to $142M in July as Cyberattacks Reach Alarming Levels
The cryptocurrency industry faced a devastating wave of cyberattacks in July 2025, with losses surging 27.2% to $142 million. As crypto hacks become more frequent and sophisticated, platforms must urgently address security gaps to protect user funds.
Why Are July Crypto Hacks So Severe?
PeckShield reported 17 major security breaches in July, up from $111.6 million in June. The attacks targeted exchanges, DeFi protocols, and cross-chain systems, exposing critical vulnerabilities:
- CoinDCX: Lost $44.2M due to a phishing attack on an employee.
- GMX: $42M stolen via a smart contract exploit, with partial recovery.
- BigONE Exchange: $28M drained in another high-profile breach.
DeFi Security Risks Under the Microscope
The GMX breach highlighted ongoing concerns in decentralized finance. Despite $40.5M being returned, the incident revealed how rushed smart contract deployments often bypass thorough audits.
How Attackers Are Evading Detection
Global Ledger’s report shows alarming trends:
| Metric | Statistic |
|---|---|
| Fastest fund movement | 4 seconds |
| Funds in motion pre-disclosure | 70% of cases |
| Recovery rate (H1 2025) | 4.6% |
Blockchain Vulnerabilities: A Growing Threat
Attackers are exploiting:
- Smart contract flaws
- Malicious approvals
- Compromised private keys
What Can the Crypto Industry Do?
To combat rising crypto hacks, platforms must:
- Implement faster detection systems
- Strengthen internal security protocols
- Conduct rigorous smart contract audits
- Improve employee security training
The surge in July crypto breaches serves as a wake-up call. As digital assets grow in value, so do the incentives for attackers. The industry must prioritize security to maintain trust and stability.
Frequently Asked Questions
Which platform suffered the largest loss in July 2025?
CoinDCX, one of India’s largest exchanges, lost $44.2 million to a phishing attack.
How much was recovered from the GMX hack?
Approximately $40.5 million in Ethereum and Frax Dollar was returned.
What percentage of stolen crypto is typically recovered?
Only 4.6% of stolen assets were recovered in the first half of 2025.
What’s the fastest recorded movement of stolen funds?
Attackers laundered assets in just four seconds in one case.
Are DeFi protocols more vulnerable than exchanges?
DeFi’s open nature and smart contract risks make it a prime target, though centralized exchanges also face significant threats.
