- Crypto hacks reached $142 million in losses in July 2025.
- CoinDCX faced the largest single incident, a $44 million hack.
- The GMX exploit led to a $42 million loss, but most assets were returned.
July saw cryptocurrency hacks surge to $142 million, impacting platforms like CoinDCX, GMX, and BigONE, according to security firm PeckShield’s report.
These cybersecurity breaches highlight vulnerabilities in both on-chain and off-chain ecosystems, potentially undermining trust while minimally affecting broader market momentum.
Crypto Hacks Result in $142 Million Losses in July
In July 2025, crypto hack losses surged to $142 million, as revealed by security firm PeckShield. The losses stemmed from attacks on prominent platforms such as CoinDCX, GMX, and BigONE.
CoinDCX experienced the largest single incident, a $44 million hack, due to a sophisticated server breach. CEO Sumit Gupta confirmed law enforcement involvement, with one employee arrested in connection.
The GMX exploit on Arbitrum caused a $42 million loss. This vulnerability allowed price manipulation of its GLP token. The attacker returned most assets following negotiations, showing the incident’s limited long-term damage.
Despite these events, market reactions were muted. The broader market rally continued, indicating limited systemic impact beyond individual platform trust issues. Liquidity restoration efforts by GMX were crucial in stabilizing the protocol.
Historically, July has been significant for such breaches, echoing the $230 million WazirX incident in 2024. These events highlight the growing sophistication of attackers targeting both on and off-chain systems.
Financial experts noted a shift in attack strategies towards off-chain infrastructure, broadening risks for crypto entities. Michael Behnke, a cybersecurity expert at Halborn, shared: “Hackers are increasingly shifting focus from on-chain smart contract vulnerabilities to off-chain infrastructure.” This trend underscores the importance of enhanced security measures and regulatory responses to safeguard digital assets.
