Crypto Hacks Surpass $142M in July, Led by $44M CoinDCX Breach

$142M Stolen in Crypto Attacks — CoinDCX Suffers Biggest Loss

Hackers and scammers drained approximately $142 million from the crypto sector in July 2025, according to data from blockchain security firm PeckShield. The losses were spread across 17 separate incidents, representing a 27% increase over June’s $111 million figure.

Despite the monthly spike, overall losses are down 46% year-over-year. July 2024 saw $266 million in crypto assets stolen, with a $230 million attack on WazirX dominating the headlines back then.

Source: PeckShield

Related: Bitcoin Eyes $119K as Institutions Scoop Up 28K BTC in Just 48 Hours

Top 3 Hacks in July: CoinDCX , BigONE, and WOO X

1. CoinDCX – $44M Stolen in Server Breach (July 18)

Indian exchange CoinDCX faced the most damaging attack of the month. CEO Sumit Gupta confirmed that hackers exploited a “sophisticated server breach” to siphon off $44 million. Authorities have arrested a CoinDCX employee in connection with the incident.

2. BigONE – $27M Lost in Hot Wallet Exploit (July 16)

Just two days earlier, BigONE fell victim to a third-party attack targeting its hot wallet infrastructure. The exploit resulted in losses exceeding $27 million.

3. WOO X – $14M Drained via Phishing (July 24)

Hackers used social engineering to breach WOO X, compromising a team member’s device and gaining access to the exchange’s development environment. The attackers executed malicious transactions over two hours, stealing $14 million before withdrawals were frozen.

WOO X Hack Highlights Offchain Risks

According to Rob Behnke, chairman of blockchain security firm Halborn, the WOO X attackers bypassed onchain defenses by targeting backend infrastructure.

“They used social engineering to compromise a team member’s computer and pivoted to the dev environment, exploiting trust in internal systems,” said Behnke.

This method reflects a growing trend: attackers are increasingly shifting focus from smart contracts to offchain systems, which are harder to secure with traditional auditing tools.

Source: Halborn

Previous blog: Top Crypto Hacks and Scams to Watch Out for in October 2024

Multichain Thefts: BTC, ETH, BNB, and Arbitrum Affected

Stolen funds were spread across multiple blockchains, including:

• Bitcoin (BTC) – $115,121

• Ethereum (ETH) – $3,658

• BNB Chain (BNB) – $775.56

• Arbitrum (ARB) – $0.3893

WOO X has confirmed that all affected users have had their balances restored using the platform’s treasury funds.

Hacker Tactics Evolve: Backend Systems Now Primary Targets

As front-end and smart contract audits improve, threat actors are now exploiting backend infrastructure vulnerabilities. These include:

• Poorly secured development environments

• Weak internal security protocols

• Inadequate employee training against social engineering

“Projects must go beyond smart contract audits and implement full-stack security,” warned Behnke.