Crypto Heists: $142M Vanishes! 😱

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Oh, the digital assets. So easily acquired, so tragically lost. One begins to suspect it’s all a bit of a lark, a spectacularly modern form of highway robbery, really.

July of twenty-twenty-five, a month one might have hoped for a quiet respite from the vulgarities of the modern age, proved instead to be positively riddled with pilfering. No fewer than seventeen significant “hacks” – one prefers “brazen thefts,” naturally – relieved investors of some $142 million. A marked increase of 27.2% over the previous month’s meagre $111.6 million. It seems the villains are becoming rather efficient at their unpleasant work.

July’s Most Appalling Depredations: CoinDCX, GMX and Others

#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:…

The most substantial blow fell upon CoinDCX, who parted with $44.2 million. Apparently, a software engineer – a Rahul Agarwal, if you must know – was “detained.” One assumes Bengaluru police are taking rather dim view of having one’s digital coffers plundered through a convenient lapse in security. The CEO, Sumit Gupta, describes it as a “sophisticated social engineering attack.” One dares to suggest that employing someone who cannot resist a cunningly worded email is scarcely a triumph of prudent management. 🙄

The Curious Case of the Returning GMX Hacker

Some 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…

Then there was GMX, initially victimized to the tune of $42 million. But – and here’s a twist – the rogue seized about $40.5 million worth of assets and returned them. A chap with a conscience, perhaps? Or merely negotiating terms for a quiet life? The world is full of these amusing ambiguities. The DeFi world, notably more so.

Hot Wallet Mayhem at BigONE and WOO X

On the sixteenth of July, BigONE found itself down $27 million thanks to a third-party “attack” on their hot wallets. WOO X, afflicted shortly thereafter, lost $14 million, the result, it seems, of a phishing scam and a team member’s regrettable gullibility. One pictures a frantic internal memo. 🤫

WOO X, a Taiwanese crypto trading platform, was hit by a $14 million hack in July 2025

The attacker used a phishing attack on a team member to access the platform’s development environment and make malicious withdrawal requests

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Future Protocol, predictably, also endured an “exploit” – draining a further $4.2 million. These things simply accumulate, don’t they?

The Evolving Art of Digital Mischief

Apparently, the villains are no longer content with fiddling about with smart contracts. They are, we are told, focusing on “off-chain systems” – backend tools, and the like. One begins to suspect they are developing strategies. It is, naturally, suggested to tighten internal security. A remarkably astute observation.

Funds, it appears, are being laundered with alarming speed – sometimes in as little as four seconds. And, a full seventy percent of the stolen assets are already on the move before anyone manages to raise the alarm. A most unsatisfactory state of affairs. Thus far, only 4.6% has been recovered. One wonders where it all goes.

A Bill of Over $3.1 Billion (and Rising!)

Hacken reports that over $3.1 billion has already disappeared in the first half of twenty-twenty-five, surpassing the entirety of the previous year. And, naturally, threats relating to those infernal AI-powered Web3 projects are multiplying. Attacks involving AI tools are up 1,025% this year. One dreads to contemplate what horrors the future holds. 😩

It is becoming increasingly apparent that this digital gold rush is more akin to a digital free-for-all – and a very expensive one at that.

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2025-08-01 12:09