The cryptocurrency world was rocked in July 2025 as crypto hacks surged by 27%, resulting in staggering losses of $142 million. The most devastating blow came when CoinDCX, a leading Indian exchange, suffered a $44 million breach. Are your digital assets safe? Let’s dive into the details.
Crypto Hacks Reach $142M in July 2025
Blockchain security firm PeckShield reported 17 incidents of crypto hacks in July 2025, totaling $142 million in losses. This marks a 27% increase from June’s $111 million but remains 46% lower than July 2024’s $266 million. The attacks targeted exchanges, DeFi platforms, and hot wallets, highlighting the evolving threats in the crypto space.
CoinDCX Breach: A $44M Wake-Up Call
On July 18, CoinDCX was hit by a sophisticated server breach, resulting in a $44 million loss. An employee was arrested in connection with the attack, underscoring the risks of insider threats. This incident serves as a stark reminder of the vulnerabilities in centralized exchanges.
DeFi Security Under Fire: GMX and BigONE Attacks
Decentralized finance (DeFi) platforms were not spared. GMX v1 lost $40.5 million on July 11, though the attacker later returned the funds. BigONE suffered a $27 million loss due to a third-party hot wallet attack. These incidents reveal the pressing need for stronger DeFi security measures.
How Attackers Exploited Weaknesses
Rob Behnke of Halborn noted that attackers are shifting from smart contract vulnerabilities to off-chain infrastructure and social engineering. For example, WOO X lost $14 million to a phishing attack that compromised a team member’s device. This trend demands enhanced backend controls and employee training.
Protecting Your Crypto Assets
- Use hardware wallets for large holdings.
- Enable two-factor authentication (2FA) on all accounts.
- Regularly audit smart contracts and backend systems.
- Educate team members on phishing and social engineering tactics.
The July 2025 crypto hacks underscore the urgent need for robust security measures. As attackers grow more sophisticated, the industry must prioritize both technical and human safeguards to protect user funds.
FAQs
What was the total loss from crypto hacks in July 2025?
Losses reached $142 million across 17 incidents, a 27% increase from June 2025.
How did the CoinDCX breach happen?
CoinDCX suffered a $44 million loss due to a sophisticated server breach, with an employee arrested in connection.
Are DeFi platforms safe from attacks?
No, DeFi platforms like GMX and BigONE were also targeted, losing $40.5 million and $27 million, respectively.
What can users do to protect their assets?
Use hardware wallets, enable 2FA, and stay vigilant against phishing attempts.
Why are off-chain attacks increasing?
Attackers are exploiting weaker backend infrastructure and social engineering as smart contracts become more secure.
