July Crypto Hacks Surge 27.2% to $142M as Social Engineering Exploits Expand

July 2025 saw a sharp rise in crypto-related security breaches, with total losses from hacking incidents reaching $142 million, according to data from PeckShield [1]. This represents a 27.2% increase compared to the $111.6 million in losses reported in June. A total of 17 major incidents were recorded during the month, with the top five accounting for the majority of the stolen funds [1].

The most significant breach occurred at India’s CoinDCX, where hackers stole $44.2 million through a sophisticated social engineering attack. The perpetrators sent fake job offers to an employee, who then downloaded malware onto a company laptop, granting the attackers access to the exchange’s systems [1]. GMX, a decentralized perpetuals platform, was also targeted with a $42 million exploit, although approximately $40.5 million—including 10,000 ETH and 10.5 million FRAX—was later returned by the attacker [1]. BigONE exchange reported a $28 million breach, while WOO X lost $12 million, and the Future Protocol suffered a $4.2 million loss [1].

PeckShield’s analysis highlights the increasing complexity and coordination behind these attacks, with social engineering tactics proving effective in bypassing traditional security layers. The July figures are part of a larger trend in 2025, where Chainalysis reports that total crypto-related thefts have already exceeded $2.17 billion [1]. The DPRK's $1.5 billion ByBit hack alone accounts for a significant portion of the year’s losses.

Attackers have also shifted focus, with 23.35% of stolen funds now originating from compromised individual wallets rather than exchanges. This shift indicates a growing preference for targeting retail users directly, with $8.5 billion in stolen crypto assets still awaiting laundering on the blockchain [1]. The geographic distribution of victims shows high concentrations in the U.S., Germany, Russia, and Canada, with Eastern Europe, MENA, and CSAO regions experiencing the fastest growth in incidents [1].

These developments underscore the urgent need for improved security protocols, employee training, and real-time threat detection in the crypto space. While the recovery of GMX funds offered some relief, the frequency and scale of these attacks continue to pose significant risks to the industry [1].

Source:

[1] Theblock.co (https://www.theblock.co/post/365182/july-crypto-hacks-peckshield)

[2] AInvest (https://www.ainvest.com/news/crypto-losses-hit-142m-july-hacks-scams-rise-27-june-2508/)