Cryptocurrency thefts reached $247.4 million in July, the second-highest total of 2026 after April's $644 million, according to DefiLlama data. The Coldcard hardware wallet exploit was the primary driver, accounting for nearly half the month's losses.
At least $100 million in Bitcoin was stolen from 7,300 wallets across three confirmed attack waves on Coldcard devices, according to Galaxy Digital. The firm identified a suspected fourth wave that could push total losses to approximately $130 million. DefiLlama's hack tracker estimates Coldcard losses at $115 million.
The exploit marked a sharp acceleration from June, when $75 million in crypto was stolen, and May's $60 million in losses.
Beyond Coldcard, several other breaches compounded July's damage. Arbitrum-based perpetual exchange AFX lost $24 million. The Verus Ethereum Bridge was exploited for $7.5 million, exposing cross-chain infrastructure vulnerabilities. DeFi protocol Bonzo Lend suffered a $9 million hack, and the Cardano-based wallet SecondFi was drained of $2.6 million.
The Coldcard incident exposed the concentration risk inherent in hardware wallet infrastructure. A single compromise affecting thousands of cold storage devices simultaneously represents a systemic point of failure within custody layers, highlighting that even devices designed for enhanced security remain subject to technological exploits that can impact entire user cohorts.
