The crypto industry saw a spike in security incidents in July compared to the previous month, with outflows from hacks totaling $142 million, according to blockchain security firm PeckShield.
PeckShield wrote on X today that the crypto sector experienced about 17 major hacking incidents in July. These breaches resulted in combined outflows totaling $142 million, representing a 27.2% increase from the $111.6 million in losses reported during June.
Notably, five major security breaches accounted for the bulk of July’s crypto theft. CoinDCX suffered the largest loss at $44.2 million, making it the month’s most significant incident. The GMX protocol attack resulted in $42 million in stolen assets, though most of these funds were subsequently recovered. BigONE exchange reported losses of $28 million, while WOO X experienced a $12 million breach, according to PeckShield. Future Protocol rounded out the top five incidents with $4.2 million in stolen cryptocurrency.
On July 19, CoinDCX, one of the largest crypto exchanges in India, fell victim to a $44 million exploit, following what company CEO Sumit Gupta initially described as a “sophisticated server breach” in a post on X at the time.
Bengaluru police later revealed that cybercriminals had used fraudulent part-time job offers to trick a CoinDCX employee into downloading malware onto a company laptop. The hackers then used the compromised access to steal crypto assets.
Meanwhile, decentralized perpetuals exchange GMX was hit by a $42 million exploit in early July. According to PeckShield, the attacker later returned approximately $40.5 million worth of crypto assets, including around 10,000 ETH and 10.5 million FRAX.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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