Crypto▼ Bearish
July Crypto Theft Hits $247.4M, Driven by Coldcard Exploit
July crypto thefts hit $247.4M, tripling June's total. The Coldcard exploit alone accounted for at least $100M across 7,300 wallets, with losses still being tallied.
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July became the second-worst month of 2026 for cryptocurrency thefts after hackers stole $247.4 million, more than tripling June's $75 million total and far surpassing May's $60 million. The surge was driven primarily by the Coldcard exploit, which accounted for at least $100 million in stolen Bitcoin across 7,300 wallets and three confirmed attack waves. What makes the episode unsettling is that a security product designed for cold storage became the center of the month's largest crypto breach, challenging assumptions that keeping assets offline is enough to neutralize sophisticated technological threats.
In July, losses from cryptocurrency hacks reached $247M, making it the second-largest monthly total since the beginning of the year. One of the main contributors was the incident involving Coldcard hardware wallets.
- CryptoRank.io (@CryptoRank_io) August 6, 2026
The scale of the Coldcard incident remains uncertain. Galaxy Digital identified three confirmed attack waves and a suspected fourth that could push total losses to roughly $130 million, while DefiLlama's hack tracker estimated $115 million tied to the exploit. The gap between confirmed and potential losses underscores how difficult it can be to measure damage while an attack is still being reconstructed. CryptoRank said July demonstrated that cold storage does not eliminate technological risk, noting that vulnerabilities can simultaneously place thousands of wallets in danger despite the perception that offline custody offers a defensive boundary.