Blockchain safety agency PeckShield has confirmed that crypto hacks drained $163 million from customers and exchanges final month. This marked a 15% bounce in comparison with July, with a $91 million hack topping the listing.
$91M Bitcoin Theft Tops August’s Crypto Hacks
PeckShield’s information revealed that round 16 main incidents contributed to the month’s losses. Approximately $163 million was stolen by hackers, representing a 15% surge from the variety of hacks recorded in July. A protracted-time Bitcoin investor suffered probably the most appreciable loss, shedding roughly $91.4 million in stolen BTC.
Turkey’s largest crypto alternate, BtcTurk, was additionally struck once more. They reported a theft of between $48 million and $54 million after hackers compromised hot-wallet keys. BtcTurk had endured a $54 million breach in June 2024, placing its cumulative losses properly above $100 million.
Other incidents in August included a $7 million loss at ODIN•FUN, $5 million drained from HigherBank.io. PeckShield additionally reported a $4.5 million exploit on CrediX Finance, which operates on the Sonic blockchain.
PeckShield’s mid-year evaluate revealed that the typical value of an exploit in 2025 was $7.18 million. This is greater than double the $3.1 million common seen in the primary half of 2024.
Access management weaknesses, notably stolen non-public keys and malicious approval schemes, accounted for over three-quarters of complete losses. Social engineering assaults contributed 23% of the full. Recovery charges for these hacks have additionally remained dismal. Currently, solely 7–8% of the stolen funds have been reclaimed.
PeckShield has recognized many high-profile crypto hacks that had been carried out by state-sponsored actors, together with North Korea’s Lazarus Group. They noticed that to keep away from detection, the stolen cash is swiftly transferred by way of mixers and cross-chain bridges.
Uptick in Crypto Hacks Raises Red Flags
The improve in hacking incidents and safety breaches has raised severe considerations in the market. Last month, Arkham disclosed the largest Bitcoin hack in historical past, which had been neglected for years. According to its investigation, a mining pool based mostly in China misplaced 127,426 Bitcoin in 2020, which is value billions of {dollars} on the present alternate price.
Furthermore, in July, buying and selling platform BigONE lost $27 million when attackers infiltrated its sizzling wallets and altered risk-control servers. However, in phrases of recovering stolen funds, the alternate assured customers that it could cowl all buyer losses.
Sui’s Cetus Protocol was also struck by a $260 million exploit. In an effort to get well the funds, Cetus provided the attacker a $6 million bounty to return the stolen funds. The 12 months’s most dramatic incident got here when ByBit was reportedly hacked for over $1.4 billion.
The rise of billion-dollar exchanges and institutional-grade custodians has not been sufficient to sluggish the wave of crypto hacks. If something, the business’s rising market capitalization makes it an excellent bigger goal. The surge means that safety infrastructure remains to be behind.
Michael Adeleke
Michael Adeleke is a passionate crypto journalist recognized for breaking down advanced blockchain ideas and market traits into clear, participating narratives. He specializes in delivering well timed information and sharp market evaluation that retains crypto fans knowledgeable and forward of the curve. With an engineering background and a level from the University of Ibadan, Michael brings analytical depth and precision to each piece he writes.
Investment disclaimer: The content material displays the writer’s private views and present market circumstances. Please conduct your personal analysis earlier than investing in cryptocurrencies, as neither the writer nor the publication is liable for any monetary losses.
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