Hackers in the encryption industry lost $247 million in July due to Coldcard vulnerability causing significant losses

According to Cointelegraph, the cryptocurrency industry lost $247 million in July due to hacker attacks, the second highest month of 2026. The Coldcard vulnerability was the biggest security incident of the month, with Galaxy Digital confirming that at least $100 million worth of Bitcoin was stolen from 7300 wallets in three waves of attacks. The fourth wave of suspected attacks raised the total loss to approximately $130 million. Other events include Bonzo Lend losing $9 million, SecondFi losing $2.6 million, AFX losing $24 million, and Verus Ethereum Bridge losing $7.5 million. CryptoRank points out that cold storage cannot eliminate technical risks.