$247M Crypto Hacks Mount in July
The crypto space suffered significant losses in July, totaling approximately $247.4 million in hacks, making it the second-highest monthly total this year, according to DefiLlama data.
This figure represents a substantial increase from June's $75 million and more than quadruples May's $60 million loss, highlighting an alarming trend in digital asset security.
The largest single incident was the Coldcard breach, which compromised a popular hardware wallet provider. Galaxy Digital estimated that 2,055 BTC were stolen, valued at around $132.39 million at current exchange rates, making it the largest individual hack of July.
This breach has raised questions about the security of cold wallets, which are typically considered more secure than hot wallets.