Hackers continue to find ways to exploit the cryptocurrency ecosystem
Hackers and scammers made off with more than $163 million worth of crypto in August, according to new data from blockchain security firm PeckShield. The firm reported the losses came from 16 separate incidents, marking a 15% increase from July’s $142 million tally, though still nearly half the amount stolen during the same month last year.
#PeckShieldAlert In August 2025, ~16 major crypto exploits were recorded, resulting in total losses of $163M—a 15% increase from July's $142M.
Notably, @btcturk suffered its second major breach in just over a year, losing over $50M after a $54M hack in June 2024., bringing their… pic.twitter.com/JWiWNEDdZW
— PeckShieldAlert (@PeckShieldAlert) September 1, 2025
The largest share of losses came from a single social engineering attack targeting an individual Bitcoiner. The victim was tricked into handing over 783 Bitcoin, worth about $91 million at the time, after fraudsters impersonated support staff from a crypto exchange and hardware wallet provider.
Security analysts say this type of attack highlights how sophisticated phishing and impersonation tactics are becoming, particularly when aimed at wealthy individuals.
Another major incident involved Turkish exchange Btcturk, which lost close to $50 million after attackers gained access to its hot wallets. The breach was the second the company had suffered in just over a year, raising concerns about exchange-level protections.
While the dollar amounts have risen, PeckShield noted that the number of successful hacks has actually been declining. August saw 16 breaches compared to 17 in July and 20 in June, suggesting the overall security environment is improving, even if the targets have become larger and more lucrative.
Experts say the recent run-up in crypto prices played a role in making these attacks more appealing. Bitcoin hit an all-time high of $124,000 on Aug. 14, while Ether reached $4,946 on Aug. 24. Rising values increase the potential payoff for attackers, creating more incentive to target centralized platforms and large holders.
PeckShield urged both exchanges and high-net-worth individuals to strengthen protections, while industry leaders pointed to emerging AI-driven security tools as a potential buffer against future losses. Despite the optimism, some analysts expect losses to rise through the end of 2025, citing the lag between evolving attack strategies and the adoption of new defenses.
