The post August proves deadly for crypto: $163 mln lost to wallet, exchange breaches appeared on BitcoinEthereumNews.com.

Key Takeaways August saw $163 million stolen from crypto users and exchanges, with major breaches like a 783 BTC wallet hack and repeated attacks on BtcTurk highlighting growing sophistication in cybercrime. Crypto users and exchanges faced a turbulent month, with blockchain security firm PeckShield reporting a total of $163 million in stolen assets.  August — The deadliest month for crypto? August proved to be another turbulent month for the crypto space, with losses piling up across exchanges, DeFi protocols, and individual wallets. The most significant single loss occurred on the 19th of August, when a Bitcoin holder fell victim to a social engineering attack. The attackers posed as support agents for a hardware wallet and tricked the user into revealing their credentials. This led to a transfer of 783 BTC (worth $91.4 million) to the criminals, who quickly funneled the funds through Wasabi Wallet, a privacy-focused tool often used to obscure transaction trails. Turkey’s largest crypto exchange, BtcTurk, faced yet another blow, reporting a theft of $48–54 million after hackers compromised hot-wallet keys. Other attacks and exploits Other notable incidents included a $7 million loss at ODIN•FUN, $5 million drained from BetterBank.io, and a $4.5 million exploit on CrediX Finance.  BetterBank’s PulseChain protocol was specifically targeted through its bonus minting system, where attackers created fake liquidity pools to harvest unlimited rewards. Despite warnings from the auditor Zokyo, the team ignored them, causing a partial loss that the attackers later returned, blurring the line between a hack and a so-called “white hat” event. This episode exposed the risks of ignored audits, flawed DeFi designs, and misaligned incentives, showing that even highly touted protocols can crumble under human mismanagement. Additionally, the CrediX hack escalated when the attackers turned it into what appeared to be an exit scam. The attackers initially agreed to…

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Filed under: News - @ September 2, 2025 2:27 am