CoinDCX, GMX Among Top Targets as July Crypto Hacks Hit $142M
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Crypto hacks are getting worse, and fast.
July 2025 saw a sharp rise in crypto hacks as hackers pulled off 17 major attacks, resulting in total losses of $142 million. This marks a 27.2% increase compared to the $111.6 million lost in June, which reveals a growing threat to digital asset platforms and protocols.
July’s Top Hacks: CoinDCX, GMX and More#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, 2025Notably, five major hacks were behind most of the crypto losses in July.
The largest hit came from CoinDCX, which lost $44.2 million. An employee at CoinDCX was recently arrested after the hack. As per the local reports, Rahul Agarwal, a software engineer, was detained by Bengaluru police after hackers allegedly used his login credentials to access company servers and steal funds.
CoinDCX CEO Sumit Gupta said that this appears to be a “sophisticated social engineering attack,” where employees are increasingly being targeted to gain access to the systems.
GMX Hacker Returns FundsSome media reports have surfaced referencing the FIR we filed with the Karnataka Police regarding the security incident that impacted our platform.
As this is an ongoing investigation, we unfortunately cannot engage with the media or public on this issue. We want to ensure the…
The next major hack was from GMX, which was initially valued at $42 million before the recovery.
One of the surprising developments from the GMX exploit was, the attacker returned around $40.5 million worth of stolen assets. This included 10,000 ETH and 10.5 million FRAX.
While rare, this kind of reversal has sparked debate over hacker motives and negotiation strategies in the DeFi world.
Hot Wallet Attacks Hit BigONE and WOO XOn July 16, BigONE exchange was hit by a third-party attack on its hot wallets, leading to a loss of over $27 million. WOO X also lost $14 million on July 24. Hackers tricked a team member through a phishing scam, gaining access to their device and pulling off the attack.
