July's Leading Cryptocurrency Heists Unveiled
July 2025 witnessed a significant surge in major cryptocurrency hacks, with cybercriminals stealing at least $142 million across 17 attacks. This represents a 27.2% increase from the losses incurred in June, which amounted to $111 million.
The Indian exchange CoinDCX experienced the largest hack, losing $44 million in a sophisticated server breach. The method or nature of the hack has not been detailed, but it is known that the breach involved an arrested employee. The employee's arrest was reported by local media.
The hack on CoinDCX was facilitated by sophisticated social engineering, with a bogus freelance gig used to trick an employee into installing malware. This incident underscores the growing vulnerabilities in the crypto industry, as cybercriminals continue to employ highly sophisticated tactics.
Other notable attacks in July include the GMX decentralized exchange hack, which resulted in a loss of $42 million. However, the hacker who exploited GMX's vulnerability returned the stolen funds, and the platform agreed to pay a $5 million bug bounty without pursuing any charges against the hacker.
The BigONE exchange also suffered a loss of $27 million, with the stolen funds consisting of Shiba Inu (SHIB), Solana (SOL), and other tokens. Decentralized finance trading platform Woo X suffered losses of $12 million, but the specifics of the hacks in July have not been disclosed for other companies or entities.
Despite the rise in hacks since June, July's losses are still 46% lower than those recorded in July 2024, which saw $266 million stolen, mainly due to the earlier WazirX breach.
The increased cyber attacks in 2025 have already resulted in over $2.17 billion being stolen, with the colossal $1.5 billion ByBit hack attributed to North Korean state-sponsored hackers. These incidents have led to increased scrutiny of internal security measures and a heightened awareness of insider threats.
In summary, July 2025 saw a notable uptick in major crypto hacks with significant financial impact, driven by both external cybercriminals and insider involvement. These incidents highlight ongoing security challenges in the crypto sector and the need for continued vigilance and improved security measures.
- The increase in major crypto hacks, resulting in a loss of $142 million across 17 attacks in July 2025, indicates a concerning trend in the crypto industry's cybersecurity.
- The CoinDCX crypto exchange, based in India, suffered the largest hack, losing $44 million due to a sophisticated server breach that reportedly involved an arrested employee.
- The hack on CoinDCX was facilitated by social engineering, as a bogus freelance gig was used to trick an employee into installing malware.
- Other noteworthy hacks include the GMX decentralized exchange hack, which resulted in a loss of $42 million, and the BigONE exchange, which lost $27 million, primarily in Shiba Inu (SHIB), Solana (SOL), and other tokens.
- The crypto trading platform Woo X suffered losses of $12 million, but the details of the hacks in July for other companies or entities remained undisclosed.
- Despite the rise in hacks since June, July's losses were 46% lower than those recorded in July 2024, mainly due to the earlier WazirX breach. However, the increased cyber attacks in 2025 have already resulted in over $2.17 billion being stolen, leading to increased scrutiny of internal security measures and a heightened awareness of insider threats.
