The cryptocurrency industry has faced a sharp rise in security breaches in July 2025. According to blockchain security firm PeckShield, the hackers have stolen $142 million across 17 major incidents. The amount represents a 27.2% rise as compared to June 2025, which indicates an amount of $111.6 million.
The spike highlights the persistent vulnerabilities in digital asset platforms as cybercriminals deploy increasingly sophisticated tactics. Five significant breaches accounted for most of July’s losses.
PeckShield stated in his X post that India’s largest crypto exchange, CoinDCX, suffered the heaviest hit, losing $44.2 million in a July 19 attack. Recently, A CoinDCX employee, Rahul Agarwal, from Bengaluru, Karnataka, was arrested following the hack. Hackers stole his login details and got access to the company servers.
The company’s CEO, Sumit Gupta, described the incident as a “sophisticated social engineering attack” caused by cybercriminals who tricked an employee.
He also stated in his X post that, “based on our internal preliminary findings, this appears to be a sophisticated social engineering attack. Naturally, in these attacks, employees of a company are targeted to gain unlawful access to internal systems of an organization.”
Law enforcement is currently working to identify and apprehend those responsible. CoinDCX assured users that their customer funds remained secure and that the company’s treasury would cover any potential losses.
According to PeckShield, the decentralized exchange GMX was the second-largest victim, losing $42 million in early July due to a re-entrancy vulnerability in its outdated V1 codebase. Notably, the attacker returned approximately $40.5 million, including 10,000 ETH and 10.5 million FRAX, following a white-hat bounty offer.
Other big crypto thefts in July included the BigONE exchange, which lost $28 million when it was hit by a suspected supply chain attack. The hackers had stolen $12 million through a phishing scam from WOOX. These attacks indicate that crypto platforms, especially older systems and centralized exchanges, are still easy targets for hackers.
PeckShield reported that crypto thefts in the year 2025 have increased, with major incidents like the $1.5 billion ByBit hack. As the crypto world grows, experts have suggested that companies need better security, like constant wallet checks and stronger user protections, to fight against these threats.
