Key Takeaways
- About $163 million was wiped out in August 2025 to crypto hacks and vulnerabilities, up 15% from July’s $142 million.
- The exploits and breaches in the crypto industry experienced a hand-in-hand relationship with the rise in user base.
- With the increasing frequency of attacks, cryptocurrency exchanges and DeFi platforms are improving their security measures.
Crypto hacks and exploits rose 15% in August compared to July, with multiple platforms facing vulnerabilities. A recent PeckShield report highlights that August 2025 reported $163 million lost to hacks and vulnerabilities, up 15% over July’s $142 million.
Although the majority of the money was concentrated in a few high-profile breaches, the total crypto hack cases reported in the month summed up to 16 different instances.
According to the crypto security company, the rise highlights two major issues in the functioning of a variety of crypto exchanges. It also demonstrates the growing skill of hackers, who have been stealing money in spite of crypto platforms’ careful and watchful approach.
The pattern is a reminder to businesses and investors to prioritise security and regular audits to safeguard digital assets. Crypto platforms require careful monitoring to avoid any mishaps and prevent loss of money.
Crypto Hacks August 2025: BtcTurk Faces the Biggest Breach
Among the most high profile thefts of the month, the largest single instance featured a long-time Bitcoin holder losing $91.4 million in stolen BTC. On August 18, the largest exchange in Turkey, BtcTurk, was once more the target of a breach using compromised hot-wallet keys.
The hack resulted in a loss of between $48 million and 54 million. After a $54 million heist in June 2024, this was the exchange’s second significant security breach in less than a year, bringing its total losses to over $100 million.
In BtcTurk’s case, PeckShield pointed out money laundering trends that were in line with operations connected to North Korea’s Lazarus Group. CrediX Finance ($4.5 million) on the Sonic blockchain, BetterBank.io ($5 million), and ODIN•FUN ($7 million) were other noteworthy cases that made August oenof the worst months in terms of crypto hack losses.
Crypto Hacks on Rise: Why is This Happened?
The surge in exploits and breaches in the crypto industry has seen a hand in hand relationship with the rise in user base. Astrit Halili from Bitunix in an interview with TimesCrypto said, “We’re seeing more hacks in crypto mainly because the industry has grown so fast. There’s simply more money in the space now, and that attracts more sophisticated hackers.”
They add, “Most of the time it’s not the blockchain itself being broken, but things around it, like vulnerabilities in smart contracts, third-party tools, or even poor security practices at exchanges or by users.”
Astrit also explained that once crypto is stolen, it’s hard to reverse. The cumbersome process of tackling breaches makes the crypto space very appealing to attackers.
Overall the reason behind the rise in crypto hacks is a mix of rapid growth, big incentives, and uneven protections. A single vulnerability can give hackers access to tens or even hundreds of millions of dollars. And because transactions are instant and hard to reverse, it makes crypto a very attractive target compared to traditional financial systems.
Exchanges and DeFi platforms Ramp Up Security Measures To Prevent Security Incidents
With the increasing frequency of attacks, cryptocurrency exchanges and DeFi platforms are improving their security measures. The recent times have seen platforms including multi-layer authentication. This provides additional security to prevent unwanted access to accounts.
Crypto exchanges are also conducting smart contract audits, in which specialists closely examine the code for flaws, to ensure the stability of their systems. Additionally, bug bounty programs, which compensate developers for identifying issues before hackers do, are becoming more and more popular.
The actions highlight how much the sector values user safety in an effort to preserve money and restore confidence. The quickly changing world of digital assets today requires constant security improvements for all parties involved due to the increasing skill of hackers.
