Bitcoin News Today: Hackers Targeting High-Value Crypto Holders with Sophisticated Social Engineering

Crypto thefts in August 2025 reached $163 million across 16 separate incidents, marking a 15% increase compared to the $142 million lost in July and a 47% decline year-on-year, according to blockchain security firm PeckShield [1]. The most significant single loss occurred when a Bitcoin holder fell victim to a social engineering attack, losing $91.4 million worth of 783 Bitcoin. Attackers impersonated a crypto exchange and hardware wallet support to gain access to the victim’s assets [1]. Another major breach occurred at Turkish exchange Btcturk, where hackers accessed hot wallets and stole nearly $54 million. This marked Btcturk’s second major security incident in the past year, with cumulative losses now exceeding $100 million since 2024 [2].

The rise in attacks was attributed to a shift in tactics by hackers, who increasingly targeted high-value individuals and centralized exchanges [1]. According to Hank Huang, CEO of Kronos Research, the surge in crypto prices often correlates with an increase in exploits, as attackers seek to capitalize on the elevated value of digital assets. In August, Bitcoin surged past $124,000, and Ether climbed over $4,946, creating a more lucrative environment for cybercriminals [1]. Huang noted that while the number of attacks had declined slightly from 20 incidents in June to 16 in August, the losses per incident were growing, driven by more sophisticated phishing and social engineering tactics [1].

PeckShield highlighted that attackers are increasingly focused on exploiting operational weaknesses in centralized systems and individual security practices. These vulnerabilities include weak audits, rushed project launches, and the absence of multi-factor authentication [3]. Smaller platforms were also hit, including the ODIN•FUN project, which lost $7 million, BetterBank.io with a $5 million loss, and CrediX Finance, which lost $4.5 million [2]. PeckShield emphasized that these incidents underscore the need for stronger security protocols, especially among decentralized platforms and high-net-worth crypto holders.

Despite the challenges, Huang suggested that emerging technologies such as AI-driven security models and enhanced encryption methods could help reduce future losses in the long term. He added that the slow pace of security innovation has contributed to the increasing success of these attacks [1]. PeckShield also recommended that both corporations and individuals holding large crypto assets implement proactive security measures, including enhanced wallet protocols and rigorous auditing [1].

The broader crypto market showed resilience amid these threats. Bitcoin, for instance, traded at $109,034 in the aftermath of August’s attacks, with a market capitalization of $2.17 trillion and a 24-hour trading volume of $60.71 billion [3]. Analysts argue that continued growth in the crypto ecosystem will require not only technological improvements but also greater awareness and caution among investors to mitigate the risk of future breaches [3].

Source:

[1] Crypto hacks August 2025 Bitcoiner Btcturk losses (https://cointelegraph.com/news/crypto-hacks-august-2025-bitcoiner-btcturk-losses)

[2] August cryptocurrency security incidents caused a loss of ... (https://www.chaincatcher.com/en/article/2202276)

[3] Blockchain Security Firm Reports $163M in Crypto Stolen ... (https://crypto-economy.com/blockchain-security-firm-reports-163m-in-crypto-stolen-last-month/)