Bitcoin News Today: Hackers Pile Up $163M in August Crypto Heists—Why Are Exchanges Still Vulnerable?

Generated by AI AgentCoin World
Monday, Sep 1, 2025 8:32 am ET1min read
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Aime RobotAime Summary

- PeckShield reports $163M stolen in 16 August crypto hacks, up from $142M in July, with $91.4M from anonymous Bitcoin addresses.

- Turkey's BtcTurk exchange lost $54M in its second major hack this year, with cumulative losses exceeding $100M since June 2024.

- Other platforms like Odin.fun and CrediX Finance reported $7M-$4.5M losses, highlighting vulnerabilities in centralized exchanges and inadequate security audits.

- Analysts link rising attacks to rapid crypto expansion and human errors (phishing, weak passwords), while Bitcoin dropped 4.62% weekly amid declining investor confidence.

- Experts urge stronger security measures, regular audits, and regulatory collaboration to address systemic risks threatening crypto adoption.

In August 2025, the cryptocurrency industry experienced a sharp increase in cyberattacks, with hackers stealing $163 million across 16 incidents, according to blockchain security firm PeckShield [1]. This represents a significant rise from the $142 million lost in July and signals a growing trend of increasingly frequent and sophisticated attacks on digital assets. The largest incident involved a $91.4 million theft from multiple anonymous

Bitcoin
addresses, highlighting the ongoing vulnerability of individual investors.

One of the most prominent victims was the Turkey-based exchange BtcTurk, which lost $54 million in a high-profile hack. This marked the second time in a year that the platform had been breached, with the same amount stolen in June 2024. The cumulative losses now exceed $100 million within a single year, prompting CEO Özgür Güneri to confirm that unauthorized access was detected. The affected wallets have been frozen, and investigations with local authorities are currently underway [1].

Other notable attacks in August included losses reported by various platforms, such as Odin.fun ($7 million), BetterBank.io ($5 million), and CrediX Finance ($4.5 million). These incidents underscore how centralized exchanges remain prime targets for cybercriminals. Analysts attribute the growing frequency of such breaches to the rapid expansion of the crypto sector, where many new platforms are launched without adequate security audits. This lack of rigorous pre-launch testing leaves vulnerabilities that attackers can exploit [1].

Human error further compounds the problem. Many users remain susceptible to phishing scams, weak password practices, and the absence of two-factor authentication. These factors not only put personal wallets at risk but also create systemic vulnerabilities on exchange platforms [1]. The cumulative impact of these breaches has been a decline in investor confidence, with Bitcoin (BTC) dropping 1.23% in the past 24 hours, trading at $107,725.91. Over the past week, BTC has fallen 4.62%, according to CoinMarketCap [1].

Experts warn that repeated security incidents may slow broader adoption of cryptocurrencies, despite strong long-term interest in Bitcoin and other digital assets. The $163 million stolen in August has sent a clear signal that the industry must prioritize security alongside innovation. Calls are mounting for stronger defense systems, regular security audits, and enhanced collaboration between exchanges and regulatory bodies to address these growing threats [1].

Source:

[1] Crypto Hacks in August: $163 Million Stolen Across 16 ... (https://coinpedia.org/news/crypto-hacks-in-august-163-million-stolen-across-16-attacks/)