Blockchain security firm PeckShield has confirmed a significant surge in crypto-related hacks, with a total of $163 million siphoned from users and exchanges in August alone. This figure represents a notable 15% increase compared to the previous month, July, with the most substantial incident being a $91 million Bitcoin theft.
$91M Bitcoin Theft Tops August’s Crypto Hacks
PeckShield’s comprehensive data analysis revealed that approximately 16 major hacking incidents contributed to August’s losses. In total, hackers managed to steal $163 million, marking a 15% increase over July’s figures. The most significant loss was borne by a long-time Bitcoin investor who lost around $91.4 million in stolen BTC.
Among the affected parties was Turkey’s largest crypto exchange, BtcTurk, which suffered yet another breach. Hackers compromised hot-wallet keys, resulting in a theft between $48 million and $54 million. This incident adds to a $54 million breach BtcTurk experienced in June 2024, pushing their cumulative losses well beyond $100 million.
Other notable incidents in August included a $7 million loss at ODIN•FUN and $5 million drained from BetterBank.io. Additionally, PeckShield reported a $4.5 million exploit on CrediX Finance, operating on the Sonic blockchain.
Rising Costs of Crypto Exploits
PeckShield’s mid-year review highlighted a worrying trend: the average cost of an exploit in 2025 rose to $7.18 million, more than doubling the $3.1 million average from the first half of 2024. These figures underscore the increasing sophistication and impact of cyber threats in the crypto space.
Access control weaknesses, such as stolen private keys and malicious approval schemes, accounted for over three-quarters of the total losses. Social engineering attacks contributed an additional 23% to the overall figure. Recovery from these hacks remains challenging, with only 7–8% of the stolen funds successfully reclaimed thus far.
PeckShield has also identified numerous high-profile hacks perpetrated by state-sponsored actors, including North Korea’s notorious Lazarus Group. To evade detection, these criminals often transfer stolen assets through mixers and cross-chain bridges.
Uptick in Crypto Hacks Raises Red Flags
The increase in hacking incidents has raised serious concerns within the market. Arkham recently disclosed the largest Bitcoin hack in history, previously overlooked for years. Their investigation revealed a Chinese mining pool lost 127,426 Bitcoin in 2020, valued at billions of dollars today.
In July, the trading platform BigONE suffered a $27 million loss after attackers infiltrated hot wallets and altered risk-control servers. To mitigate customer impact, the exchange assured users it would cover all losses.
Additionally, Sui’s Cetus Protocol was struck by a staggering $260 million exploit. In an unprecedented move to recover the funds, Cetus offered the attacker a $6 million bounty for the return of the stolen assets. The year’s most dramatic event involved ByBit, reportedly hacked for over $1.4 billion.
The rise of billion-dollar exchanges and institutional-grade custodians has not sufficed to stem the tide of crypto hacks. On the contrary, the growing market capitalization makes the industry an increasingly attractive target. This surge suggests that the security infrastructure must evolve rapidly to keep pace with these threats.
For further insights and detailed statistics, visit the original article on CoinGape.
