Bad actors and scammers stole at least $ 142 million from Crypto Space in July, in 17 separate attacks, for the most significant damage with exploitation of Crypto Exchange Coindaks.
Total monthly damage represented an increase of 27% from $ 111 million in June, blockchain security firm Peckshield Said In an X post on Friday.
However, this is still a decline of 46% from the same time of last year, when taken by hackers in July 2024, with a violation of $ 230 million of Indian Crypto Exchange Wazirx for the lion’s share.
Pekshield said the attacker exploited GMX decentralized exchange for $ 40 million in Crypto on 11 July, returning the second largest hack for the month, stolen funds.
Coindcx is the largest hack for July
The Indian Cryptocurrency Exchange Coindcx was hacked on July 18 for $ 44 million, stating CEO Sumit Gupta said “was a sophisticated server violation.” A coindcx employee was arrested on Thursday in connection with the incident.
A few days ago, on 16 July, the Crypto Exchange Betone faced a third -party attack, targeting his hot wallet infrastructure, resulting in a loss of at least $ 27 million.
Round the top three for July was the Crypto trading platform Wu X, which was compromised on July 24 through a fishing attack, resulting in at least $ 14 million.
Wu X team member’s device was accessed
Rob Behanke, Chairman of Blockchain Security Firm Halbourne, Said In a report on Tuesday, bad actors responsible for Wu X Hack used social engineering to target one of the team members and reach their equipment.
“In this case, the attacker used social engineering to compromise the computers of the team member. From there, they could pive in an environment of development and take advantage of the trust in the system to eliminate user accounts,” he said.
“The attacker successfully performed several malicious transactions during the two hours before the attacker paid attention to the suspicious activity and the platform disabled withdrawal.”
Funds were stolen on several series including Bitcoin (BTC), Ether (ETH), BNB (BNB), and Arbitrum (ARB).
The accounts affected by the incident later restored their remaining amount from the company’s treasure.
Connected: Crypto Seed phrase, Front-Hack Drive Record Loss in 2025: TRM Labs
Targeting Hackers Offchain System
According to Behanke, there has been a recent trend among hackers to target the offchen system for high-value hack.
“Instead of searching for exploitative smart contract weaknesses, which can be identified and addressed through the Smart Contract Secract Audit, the attackers seek weaknesses in back and infrastructure and processes,” he said.
“As the Defee hackers increase the more sophisticated and rapid target back end systems and infrastructure, projects require strong safety controls and procedures to reduce these hazards.”
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