Crypto hacks hit $110M in July; Immunefi sees more bug reports

Crypto projects lost roughly $110 million to hacks in July, according to data from the security platform Immunefi. The month added to a year that has already seen $1.1 billion in crypto security losses during the first six months, as reported by Blockaid.

Immunefi recorded 164 crypto hacks through Aug. 3, including 67 incidents that each caused more than $1 million in losses. The company projects that the number of such major incidents could reach 114 by the end of 2026, which would surpass the previous annual record of 72 set in 2024. Only 49 had been recorded by the same point that year.

Two large attacks drove July's total. Ostium lost 23.75 million USDC after an attacker compromised its off-chain infrastructure and manipulated price data. AFX suffered a separate $24.15 million bridge exploit. Together, the two accounted for more than $47 million in losses.

Immunefi said its researchers received $2.32 million for confirmed vulnerabilities in July. The number of reports that were both confirmed and paid rose 18% from the previous month. Its bug bounty programs prevented 374 threats, up from 317 in June and 339 in May. Cumulative payments to security researchers reached $143.1 million, compared with $140.8 million at the end of June.

The rise in submissions comes as artificial intelligence tools make it easier for researchers to scan code and prepare vulnerability reports. crypto.news previously reported that AI had driven a sharp increase in bug bounty submissions, though project teams also faced more low-quality reports and false positives.