July Crypto Hacks Surge to $142M, CoinDCX Lose $44M
July crypto hacks don increase as attackers thief $142 million for 17 cases, ndich show 27% rise from June. The biggest waka happen for CoinDCX, where malware for developer laptop allow server-level hack wey cost the exchange $44.2 million. Decentralized exchange GMX suffer $42 million exploit, but the attacker return $40.5 million after some days. Other platform like BigONE, WOO X and Future Protocol loss over $46 million for third-party and phishing attacks. These crypto hacks show how security fail for exchange and DeFi weak points don grow, as hackers shift from on-chain smart contracts to backend infrastructure and social engineering. Traders suppose dey monitor exchange risk and on-chain activity, and make sure employee device protection strong to reduce future wahala.
Bearish
Dis seri of big waka wey dem do for crypto, especially di $42M GMX wahala and di $44M CoinDCX gbege, dey spoil market trust for exchange security and DeFi platforms. For short time, investors fit commot di tokens wey dem affect like GMX because of di high risk wey dey, this one go make prices go down. Even though di person wey attack GMX return most money, di yawa for backend system and social engineering fit make person dey doubt for long. For long run, better security fit bring trust back but, di market reaction at the start go dey bad, so di overall look be bearish.