July Became One of the Worst Months for the Crypto Industry Due to Theft of Over $247M

cryptonews.ruPublished on 2026-08-08Last updated on 2026-08-08

Abstract

July 2026 was one of the worst months for the crypto industry due to hacks totaling over $247 million, making it the second-largest loss of the year so far. The significant losses were largely driven by several hardware wallet exploits targeting Coldcard, which Galaxy Digital reports led to over $130 million in losses. Analysts confirmed three major attacks on Coldcard, with a potential fourth wave under investigation. According to DefiLlama, the losses from Coldcard alone were approximately $115 million. This series of attacks highlights that even cold storage is not immune to technological risks that can endanger thousands of wallets simultaneously. Other notable incidents in July included the $9 million hack of the Bonzo Lend DeFi protocol, a $2.6 million theft from a Cardano-based SecondFi wallet, a $24 million theft from the Arbitrum-based AFX exchange, and a $7.5 million exploit via the Verus Ethereum Bridge.

Updated: 2026-08-07

According to data from the DefiLlama platform, hackers stole over $247 million worth of cryptocurrency in July 2026. This is the second-largest figure since the beginning of the year. So far, April remains the leader in terms of losses, with $644 million. For comparison, in June, malicious actors stole digital assets worth nearly $75 million, and in May, approximately $60 million.

The largely disappointing results for July are largely due to several exploits targeting Coldcard hardware wallets. According to Galaxy Digital, users of these devices lost over $130 million. Analysts at the company identified and confirmed three attacks on Coldcard; they also detected a fourth wave but have not yet been able to definitively confirm it. According to the DefiLlama hack tracker, hackers stole about $115 million from Coldcard owners.

July showed that even cold storage does not eliminate technological risks that can simultaneously endanger thousands of wallets, — stated CryptoRank.

However, attacks on Coldcard were not the only notable events in July. Last month also saw a $9 million hack of the Bonzo Lend DeFi protocol, a $2.6 million theft from the Cardano-based SecondFi wallet, a $24 million theft from the Arbitrum-based AFX exchange, and a $7.5 million theft via the Verus Ethereum Bridge.

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Related Questions

QAccording to the article, why was July one of the worst months for the crypto industry in 2026?

ABecause hackers stole over $247 million worth of cryptocurrency, making it the second-largest monthly loss of the year at that point.

QWhat were the approximate losses from crypto thefts in May and June of 2026 as mentioned in the report?

AIn June, nearly $75 million was stolen, and in May, approximately $60 million was stolen.

QWhat was the primary factor contributing to the high losses in July, and which specific hardware wallet was targeted?

AThe high losses were largely due to several exploits of Coldcard hardware wallets, with users losing more than $130 million according to one report.

QAccording to the quote from CryptoRank in the article, what key point does July's data illustrate about cold storage?

AIt illustrates that even cold storage does not eliminate technological risks, which can simultaneously endanger thousands of wallets.

QBesides the Coldcard attacks, name one other significant crypto theft incident that occurred in July according to the article.

AOne other significant incident was the theft of $24 million from the Arbitrum-based AFX exchange.

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