The bull market and crypto hacks have aligned very well over the past three months, as both have recorded a notable and consistent spike.
August saw the third consecutive rise in monthly crypto hacks as fraudulent actors took action within the market-wide bullish sentiment.
According to an X post by PeckShield, the ecosystem witnessed 16 breaches last month.
#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
In total, the amount of crypto assets lost to hackers reached $163.2 million, with the top five incidents making up to 99% of the total number. This is the third rise, as June saw $111 million and July recorded $142 million in breaches.
The largest hack belongs to a long-term Bitcoin BTC $92 124 24h volatility: 1.0% Market cap: $1.84 T Vol. 24h: $47.05 B holder that lost over $91 million. Moreover, the Turkish crypto exchange BtcTurk was hacked for $54 million due to some “technical issues” with its hot wallets.
Odin Fun, a meme coin launchpad on Bitcoin, lost 58.2 BTC, worth roughly $7 million, on Aug. 13. BetterBank and CrediX Finance follow closely with $5 million and $4.5 million lost to hackers, respectively.
These hacks usually undermine the industry’s reputation and investor sentiment.
However, the crypto market recorded a notable surge in mid-August, with BTC reaching an ATH of $124,457 and Ethereum ETH $3 166 24h volatility: 0.7% Market cap: $382.61 B Vol. 24h: $26.20 B breaking its four-year course to an ATH $4,953.
The decentralized finance sector is also steady above the $150 billion mark despite the selloff in late August.
next