August Crypto Hacks Reach $163 Million, High-Value Targets in Focus

In August 2025, crypto hacks totaled $163 million, driven by high-value attacks on centralized wallets and a single social engineering loss of 783 BTC. Increased crypto prices and targeted hot-wallet compromises made August a higher-risk month for large holdings. Major loss drivers were centralized hot-wallet breaches and social engineering.

In August 2025, crypto-related thefts totaled $163 million, marking a 15% increase from the previous month. The surge in attacks, which targeted high-value individual holders and centralized exchanges, was driven by sophisticated social engineering and phishing tactics [1].

One of the largest single incidents involved a Bitcoin holder who lost 783 BTC, valued at approximately $91.4 million. The victim was tricked into revealing sensitive wallet information by attackers who impersonated a hardware wallet and crypto exchange support team. The stolen Bitcoin was immediately laundered through a privacy tool called Wasabi Wallet [2].

Another significant breach occurred at the Turkish exchange Btcturk, which suffered a $48 million loss after attackers gained access to its hot wallets. This marked the second major breach for Btcturk in 14 months, with its total losses now exceeding $100 million. The attack involved multi-chain exploitation across seven networks, including Ethereum, Avalanche, and Polygon [3].

Additional incidents included a $7 million exploit at token launchpad ODIN•FUN, a $5 million theft from lending protocol BetterBank, and a $4.5 million attack on CrediX Finance, which later evolved into an apparent exit scam. Attackers used the Tornado Cash mixing service to launder stolen assets, highlighting the growing complexity of attacks within the decentralized finance (DeFi) sector [2].

Experts warn that rising crypto prices correlate with increased attacks, as higher valuations create greater incentives for exploitation. Both Bitcoin and Ether reached new all-time highs in August, with Bitcoin exceeding $124,000 and Ether surpassing $4,946. Despite a decline in the number of attacks over recent months, total loss volatility persists due to a small number of high-value incidents [1].

PeckShield and cybersecurity experts have urged high-value targets—both individuals and corporations—to adopt proactive security measures, including regular audits, multi-layered wallet protections, and heightened vigilance against social engineering tactics. As the crypto market continues to mature, the ability to mitigate these risks will be critical in building trust and long-term adoption [3].

References:
[1] https://www.ainvest.com/news/bitcoin-news-today-high-crypto-targets-fall-sophisticated-social-engineering-schemes-2509/
[2] https://en.coinotag.com/august-crypto-hacks-top-163-million-as-bitcoin-theft-suggests-growing-risk-to-high-value-targets-kronos-ceo-says/