Sakshi Jain
01-09-2025
In the recent study on Crypto hacks and scams, a continuous rise was seen in August 2025. Due to security reasons, irresponsibility or loopholes in the system give hackers chances to steal millions from the users.
According to PeckShieldAlert, around 16 major crypto hacks were recorded in August 2025, resulting in $163 million in total losses, up 15% from July’s $142 million. Among the worst-hit was BtcTurk, suffering another $50M exploit after a $54M breach in June 2024, pushing cumulative losses beyond $100M.
Top 5 Crypto Hacks from 16 Noted in August 2025:
$BTC Hodler – $91.4M
btcturk – $54M
ODIN•FUN – $7M
BetterBank.io – $5M
CrediX Finance – $4.5M.
Source: PeckShieldAlert X
What happened: On August 19, 2025, a Bitcoin investor lost 783 BTC, which is equivalent to $91 million, in a social engineering scheme.
How: Fraudsters posed as a customer service representative of a hardware wallet manufacturer and a cryptocurrency exchange and got the trader to provide wallet credentials. They then transferred the money via Wasabi Wallet, a Bitcoin mixer, which spreads the money to various wallets to conceal the track.
Why: The attackers exploited psychological manipulation, preying on the victim’s trust in official support channels.
Recovery or Action Taken: Binance issued warnings about such scams, but no recovery or arrests have been reported so far.
What happened: BtcTurk, a cryptocurrency exchange based in Turkey, was hit by a multi-chain exploit that cost the exchange up to $48 million. Trading was not stopped, but withdrawals and deposits were.
How: Attackers attacked Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, Polygon, and Solana networks. Hacked wallets would then swap stolen funds using MetaMask to centralize the assets into ETH.
Why: Hackers used vulnerabilities in hot wallets to transfer tokens rapidly before being detected, in a wave of crypto security breaches of both DeFi and exchanges.
Recovery or Action Taken: BtcTurk is collaborating with blockchain security firms to trace stolen funds, but no recovery timeline has been announced.
What Happened: ODIN.FUN, a memecoin launchpad that uses Bitcoin, lost $7 million to hackers who took advantage of a vulnerability in the platform.
How: Hackers exploited a vulnerability in an AMM liquidity mechanism that had just been changed, adding tokens such as $SATOSHI, pumping their prices, and liquidating them to steal 58.2 BTC.
Why: The exploit was a flaw in the new system update that enabled artificial price manipulation and organized Bitcoin withdrawal. The attack was allegedly executed by organized bodies in China.
Recovery or Action Taken: ODIN.FUN shut down its operations, started a comprehensive security audit, enlisted the services of law enforcement in the U.S. and China, and is also considering how to compensate its affected users.
What happened: CrediX Finance lost $4.5 million on August 4, 2025, leading to rumors of a DeFi hack or exit scam, and the site and social accounts of the platform were taken down.
How: The attacker used access to the wallets of the admins, minted unbacked tokens of $S, exchanged them with liquid assets, and transferred money through the Sonic-to-Ether bridge to several accounts, which are not used anymore.
Why: Lack of strong admin controls and bridging security allowed either a technical exploit or a potential insider-coordinated exit, eroding investor trust.
Recovery or Action Taken: No reimbursements or official updates have occurred; funds remain static, and no legal action has been reported.
What happened: On August 27, 2025, BetterBackio, a ddefiprotocol was exploited for nearly $5m in DAI, PLSX, and WPLS.
How: Attackers used counterfeit liquidity pools and flash loans to work around the reward system of the platform and minted as many ESTEEM tokens as possible to empty the wallets.
Why: BetterBank had a vulnerability in its reward mechanism (previously flagged) that was not fixed, and hackers used it.
Recovery or Action Taken: BetterBank shut down and settled with the exploiter, who reimbursed $2.7 million, which left net losses of approximately $1.4 million.
The increase in scams and hacks highlights the ease of crypto crimes. The above incidents bring light to the need for strict security protocols, user attentiveness, and global cooperation to overcome rising threats in the crypto industry.
Sakshi Jain is a crypto journalist with over 3 years of experience in industry research, financial analysis, and content creation. She specializes in producing insightful blogs, in-depth news coverage, and SEO-optimized content. Passionate about bringing clarity and engagement to the fast-changing world of cryptocurrencies, Sakshi focuses on delivering accurate and timely insights. As a crypto journalist at Coin Gabbar, she researches and analyzes market trends, reports on the latest crypto developments and regulations, and crafts high-quality content on emerging blockchain technologies.
Sakshi Jain is a crypto journalist with over 3 years of experience in industry research, financial analysis, and content creation. She specializes in producing insightful blogs, in-depth news coverage, and SEO-optimized content. Passionate about bringing clarity and engagement to the fast-changing world of cryptocurrencies, Sakshi focuses on delivering accurate and timely insights. As a crypto journalist at Coin Gabbar, she researches and analyzes market trends, reports on the latest crypto developments and regulations, and crafts high-quality content on emerging blockchain technologies.
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