Crypto Hacks Surpass $142M in July 2025, CoinDCX Tops Losses as Offchain Attacks Rise
The crypto industry saw a sharp surge in security breaches in July 2025, with cybercriminals stealing at least $142 million across 17 different attacks. According to new data from blockchain security firm PeckShield, the CoinDCX exchange suffered the month’s largest loss, highlighting a worrying trend of offchain exploits and advanced social engineering attacks targeting major platforms.
July’s Crypto Losses: Key Statistics and Trends
- Total value stolen: $142 million (up 27% from June’s $111 million)
- Number of major attacks: 17
- Comparison to 2024: 46% decrease from the $266 million hacked in July 2024, when WazirX’s $230 million loss dominated headlines
Despite the uptick from last month, the figures remain significantly below 2024 peaks. PeckShield’s July 2025 report not only captured the scale of attacks but also spotlighted new vectors through which bad actors are exploiting digital asset platforms.
CoinDCX: The Largest Hack of July
Indian cryptocurrency exchange CoinDCX topped the list of victims, losing $44 million after what CEO Sumit Gupta described as “a sophisticated server breach.” The details emerged as a CoinDCX employee was arrested in connection with the theft, underscoring the risk posed by internal vulnerabilities.
Other Major Crypto Incidents: BigONE and WOO X Hit
- BigONE Exchange: On July 16, the exchange suffered a third-party “hot wallet” attack, costing the company at least $27 million. The breach reflected persistent dangers to custodial wallets used for liquidity and transactions.
- WOO X Platform: A phishing attack on July 24 resulted in losses of at least $14 million. Blockchain security firm Halborn reported that hackers targeted and compromised a team member’s computer through social engineering, allowing unauthorized access to critical internal systems and enabling the attackers to drain user accounts.
How Social Engineering Fueled Breaches
Social engineering is fast becoming a favored tactic for crypto hackers. Rob Behnke, chairman of Halborn, explained that attackers increasingly focus on tricking employees to gain access rather than exploiting smart contract code itself. In the WOO X attack, infiltrators used these methods to breach the development environment a stark reminder that employees remain a critical security weak point even in blockchain organizations.
Crypto Assets Targeted Across Multiple Blockchains
The stolen funds were drained from wallets and accounts on a variety of major chains, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- Arbitrum (ARB)
Company Response: Funds Restored from the Treasury
For users impacted by these incidents, there was some reprieve: affected accounts saw their balances restored from company reserves, demonstrating a commitment to customer trust and operational resilience in the face of cybercrime.
A New Trend: Hackers Focus on Offchain Vulnerabilities
Recent attacks signal a pivot among hackers, who are now targeting offchain systems and backend infrastructure rather than directly exploiting blockchain smart contracts. Behnke noted, “Attackers are now searching for weaknesses in backend infrastructure and processes, rather than focusing solely on smart contract code flaws.” With more platforms performing regular smart contract security audits, backend system security has become an urgent priority across the industry.
Takeaways for Crypto Investors and Platforms
- Offchain security is now as critical as onchain audits.
- Employee training against phishing and social engineering is vital.
- Multi-chain vulnerabilities widen the attack surface for hackers.
As crypto adoption accelerates, robust security controls spanning both smart contract audits and backend infrastructure are essential to mitigate evolving threats. With hackers increasingly exploiting offchain vectors, industry stakeholders must stay vigilant to reduce risks and maintain user trust.