Cryptocurrency platforms suffered over $142 million in losses across 17 major hacks during July 2025, marking a 27% increase from June's $111.6 million according to blockchain security firm PeckShield. The damage was concentrated in five primary incidents, with attackers now laundering stolen funds in minutes – outpacing security responses.
Indian exchange CoinDCX incurred the largest single loss at $44.2 million on July 19 after an employee installed malware disguised as a fake job offer. GMX, a decentralized derivatives protocol, lost $42 million due to a contract vulnerability on July 11, though $40.5 million in Ethereum (ETH) and Frax Dollar (FRAX) was later returned. Other major breaches included BigONE Exchange ($28 million), WOO X ($14 million), and Future Protocol ($4.2 million).
A Global Ledger H1 2025 report revealed attackers moved funds within 4 seconds in the fastest case, with 70% laundering completed before public disclosure. Only 4.6% of stolen assets were recovered in the first half of 2025. WOO X's breach involved social engineering to compromise a team member's device, enabling malicious transactions across Bitcoin (BTC), Ethereum (ETH), BNB (BNB), and Arbitrum (ARB) before withdrawals were halted.
Halborn Chairman Rob Behnke noted a shift toward targeting off-chain infrastructure rather than smart contracts, emphasizing that traditional anti-money laundering workflows are insufficient against these accelerated attacks.
