The crypto world had quite the rough ride in July, with security incidents spiking to a whopping $142 million in losses. That’s a 27.2% increase from June’s $111.6 million, according to PeckShield. In case you were wondering, things aren’t exactly getting safer out there.

PeckShield reported 17 major hacking events last month—yup, 17. Seems like a lot, right?

Five of those breaches were particularly juicy, raking in most of the stolen funds. CoinDCX took the biggest hit, losing $44.2 million, making it the month’s biggest theft. GMX wasn’t far behind with $42 million in stolen assets. The kicker? Most of GMX’s stolen funds were actually returned, but still—imagine the stress on those involved! BigONE also lost $28 million, while WOO X wasn’t spared either, with a $12 million breach. Finally, Future Protocol rounded out the top five with $4.2 million in stolen crypto.

CoinDCX and GMX Attacks - The High-Profile Breaches of July

CoinDCX’s hack was a bit of a jaw-dropper. On July 19, the Indian exchange fell victim to a $44 million exploit. The CEO, Sumit Gupta, called it a "sophisticated server breach" at first, but Bengaluru police later uncovered that cybercriminals had used fraudulent job offers to trick an employee into downloading malware onto a company laptop. Classic move, right? Once they had access, the hackers made off with the goods.

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Source: Giphy

Then there’s GMX, the decentralized exchange that took a $42 million hit. However, here’s the twist: the attacker returned about $40.5 million in crypto, including 10,000 ETH and 10.5 million FRAX. I mean, is this some kind of crypto Robin Hood situation? Still, the damage was done. These events are just more signs that the crypto industry needs to up its game in the security department, because at this rate, the only thing growing faster than adoption is the number of hacks.

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