Crypto Thefts Hit $142 Million in July, CoinDCX Suffers Largest Breach

Crypto market has lost over $142 million in breach cases in July, marking one of the most damaging months this year for digital asset platforms.

According to blockchain security firm PeckShield, the losses stemmed from 17 separate incidents, with the attack on Indian exchange CoinDCX standing out as the most severe.

The July figure represents a 27% increase from June’s $111 million in stolen funds.

However, it remains significantly lower—about 46%—than the $266 million lost in July 2024, when the now-infamous $230 million WazirX hack dominated headlines.

The most significant incident this month involved a $44 million theft from CoinDCX on July 18 , which CEO Sumit Gupta described as a “sophisticated server breach.” Authorities arrested a CoinDCX employee on Thursday in connection with the incident, signaling internal involvement may have played a role.

BigONE and WOO X Breach Cases The second-largest exploit occurred on July 11, when decentralized exchange GMX lost $40 million.

Interestingly, PeckShield noted the attacker returned the stolen funds within days—though no official explanation was provided for the reversal.

Just two days before the CoinDCX breach, crypto trading platform BigONE experienced a security breach on July 16 targeting its hot wallet infrastructure, resulting in a $27 million loss.

Rounding out the top three hacks of the month was the $14 million phishing attack on crypto exchange WOO X on July 24. According to a report from Halborn Chairman Rob Behnke, the WOO X incident was the result of a social engineering attack that compromised a team member’s device.

From there, hackers gained access to internal systems and used the opportunity to drain funds from user accounts across multiple chains, including Bitcoin, Ethereum, BNB, and Arbitrum.

“The attacker successfully performed multiple malicious transactions over the course of two hours before the suspicious activity was noticed,” said Behnke.

WOO X later restored all affected user balances from its treasury.

Hackers Shift Focus to Offchain Infrastructure Behnke also warned that there’s been a noticeable shift in breach tactics.

Instead of exploiting smart contract vulnerabilities, attackers are increasingly targeting offchain systems such as internal servers, development environments, and backend infrastructure—areas often overlooked in standard audits.

“As DeFi hackers grow more sophisticated, crypto firms must go beyond smart contract security and implement rigorous infrastructure protections,” Behnke advised.

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