July saw a significant crypto theft from the Coldcard wallet, pushing total losses for the month to over $247 million. This makes it the second-worst month of 2026 after April’s record-breaking hack.
In July 2026, cryptocurrency theft hit new heights with a massive exploit targeting Coldcard wallets, resulting in losses exceeding $100 million and contributing to total crypto thefts worth over $247 million for the month. This marked the second-worst month of the year after April’s record-breaking $644 million hack.
The Coldcard exploit was particularly devastating, as hackers managed to steal 7,300 wallets containing a significant amount of Bitcoin (BTC). According to Galaxy Digital, at least $100 million in BTC was stolen across three confirmed attack waves. DefiLlama estimates the losses from this single incident at around $115 million.
Beyond Coldcard, other notable hacks during July included a $9 million theft from Bonzo Lend’s decentralized finance protocol and $24 million taken from AFX, an Arbitrum-based perpetual exchange. These incidents underscore the ongoing risks in the crypto space despite efforts to secure wallets and exchanges.
The high-profile nature of these exploits highlights the persistent threats faced by cryptocurrency users and businesses alike. Cold storage was not immune; hackers managed to breach even supposedly secure hardware wallets like Coldcard, emphasizing that no wallet is completely safe from cyberattacks.
These incidents have broader implications for the crypto market and user trust. They could lead to increased scrutiny of security protocols and potentially drive more investment into robust cybersecurity measures. Traders should be vigilant about potential vulnerabilities in their own setups and stay informed about emerging threats.
Going forward, traders should keep an eye on ongoing developments related to Coldcard’s security issues and any new exploits targeting similar hardware wallets or storage solutions. The crypto community must continue to work towards enhancing overall security standards.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.