August 2025 was a particularly dark month for the crypto industry.
Data from PeckShield shows that there were approximately 16 major hacks resulting in losses totaling $163 million. This figure represents a 15% increase compared to July, so it’s understandable that many market participants are starting to worry about this trend.
On the other hand, the most high-profile case involved BtcTurk, a Turkish crypto exchange. In mid-August, the platform fell victim to another attack, after assets worth approximately $48 to $52 million disappeared from a hot wallet.
This incident was made even more devastating by the fact that it wasn’t the first time they had been hacked. In June 2024, BtcTurk had already lost approximately $54 to $55 million due to a similar incident. Totaling the exchange’s losses, the exchange surpassed $100 million. Imagine, two major disasters in 14 months.
However, BtcTurk was clearly not the only victim. Several other platforms also suffered misfortune, although their losses were smaller.
The attack patterns used are increasingly diverse. Some exploit technical vulnerabilities in smart contracts, while others target weaknesses in traditional security systems.
Crypto hacks highlight rising sophistication in attack methods
Furthermore, several security analysts believe that theft methods are becoming increasingly sophisticated, relying not only on bugs but also on social engineering techniques to deceive operators and users.
Not only that, but annual data also reveals a concerning situation. Throughout 2025, the total funds lost due to hacking reached approximately $2.47 billion.
Of this amount, only around $187 million were recovered, a figure that seems small compared to the overall value of the losses. One of the largest cases even involved a major platform that reportedly lost over $1.5 billion.
Looking at this trend, it’s clear there’s significant work ahead for the crypto industry. Hacking is no longer a side issue, but a recurring problem. While blockchain innovation continues to advance, cybercriminals are also honing new strategies.