PeckShield wrote in its August 01, 2025, X post that the crypto market has lost $142 million in 17 major hacks; total losses have surpassed the loss of $111.6 million recorded in June this year.
#PeckShieldAlert In July 2025, ~17 major crypto hacks were recorded, resulting in total losses of $142M—a 27.2% increase (from $111.6M in June). Notably, the #GMX exploiter has returned ~$40.5M worth of cryptos, including 10K ETH and 10.5M $FRAX.#Top5 Hacks in July 2025:… pic.twitter.com/Y5VLUILq5Z
— PeckShieldAlert (@PeckShieldAlert) August 1, 2025
It is worth noting that the CoinDCX hack is one of the most prominent, resulting in losses around $44.2 million, followed by the GMX hack of $42 million, yet the exploiter has returned $40.5 million worth of crypto, including 10k Ethers and 10.5 million FRAX tokens.
However, the breach of BigONE Exchange has resulted in $28 million, the WOOX hack that lost $12 million in crypto, and Future Protocol lost $4.2 million.
CoinDCX, BigONE Exchange & GMX most disastrous in July
Centralized crypto exchange, CoinDCX suffered a cyberattack on July 19, 2025 resulting a loss of nearly $44.2 million, from an internal operation wallet used for liquidity provisioning on a partners exchange, it was reported that hack occurred to sophisticated server-side vulnerability, not a blockchain or smart contract exploit, allowing hackers to access the wallet and drain funds primarily in USDC and USDT in couple of minutes.
However, the exchange confirmed following the hack that no customer funds were affected, as it stores users’ assets in segregated cold wallets offline, it has absorbed the loss using its corporate treasury reserve, and assured users that trading INR deposits and withdrawals remained unaffected.
BigOne is a Seychelles-based crypto exchange that suffered a loss of $27 million on July 16. The hack occurred due to a sophisticated supply chain attack. It is said that the malicious actors succeeded in compromising the production network of the exchange, manipulating servers responsible for account and risk control, enabling unauthorised withdrawals from the hot wallets.
The major cryptocurrencies looted in the breach include a significant number of Bitcoins, Ethereum, Solana, USDT, Shiba Inu, and Dogecoin, including a few others.
GMX, a decentralised perpetual futures exchange GMX suffered a $42 million exploit on the V1 platform, especially targeting its GLP liquidity pool on the Arbitrum Network, yet the attack caused a massive drop of 20- 30% in GMX native token; it later recovered to $13.36 from the lowest of $10.40.
The post-mortem analysis of GMX V1 Exploit on Arbitrum is out and we want to share our thoughts:1) The entry point of the attack was at https://t.co/ZySqTYnrJQ, not #L764.2) While the reentrancy is being utilized, the exploited bug shares the same nature of an earlier (2022)… https://t.co/VLwMay4phZ pic.twitter.com/oqJELdb4ul
— PeckShield Inc. (@peckshield) July 11, 2025
Several blockchain analytics firms noted the reentrancy issue and urged the V1 fork to address a similar vulnerability. With the skyrocketing popularity of cryptocurrencies, hacks and breaches are becoming quite common; the industry needs tighter regulations and enhanced security in order to avoid losses, troubling common investors.
Execution-first marketing. Own every Web3 feed with Koinpr.com.
