Key facts
- July 2026 saw $247.4 million in cryptocurrency stolen.
- A Coldcard exploit accounted for at least $100 million in July thefts.
- Wrench attacks have resulted in over $30 million stolen in H1 2026.
- France leads in documented wrench attack incidents.
- Hackers linked to the Coldcard exploit moved 64 BTC and 200 ETH to mixers.
- Some stolen funds were laundered via Wasabi Wallet and Tornado Cash.
- Over $116 million in Bitcoin was stolen in the Coldcard hack.
- US spot Bitcoin ETFs attracted approximately $620 million this week.
- Russia legalized cryptocurrency, with a regulated market set for 2026.
- The Coldcard exploit has reignited self-custody debates.
July 2026 experienced significant cryptocurrency theft, with a total of $247.4 million stolen, making it the second-worst month of the year for such incidents. A substantial portion of these losses, at least $100 million, is attributed to an exploit affecting Coldcard hardware wallets. This event has reignited discussions surrounding self-custody versus centralized solutions like exchange-traded funds.
Beyond the Coldcard exploit, other forms of crypto crime are also on the rise. 'Wrench attacks,' a violent form of crypto theft, have already resulted in over $30 million stolen in the first half of 2026. This trend places the current year on track to surpass the record set in 2025 for these types of attacks. France has been identified as a leading country for documented wrench attack incidents, with perpetrators increasingly targeting families and employing sophisticated methods for laundering stolen funds.
Following the Coldcard exploit, hackers reportedly moved approximately 64 Bitcoin and 200 Ether to cryptocurrency mixing protocols, according to blockchain security firm CertiK. While some of these funds were laundered through services like Wasabi Wallet and Tornado Cash, the majority of the stolen assets reportedly remain in wallets controlled by the attackers. The total value of Bitcoin stolen in the Coldcard hack is estimated to be over $116 million.
Amidst these security concerns and theft reports, US spot Bitcoin ETFs have continued to attract significant investment. These ETFs saw inflows totaling approximately $620 million over the past week. Analysts are observing this trend and debating whether investors are moving away from self-custody solutions like hardware wallets towards the perceived safety and convenience of ETFs, especially in light of the Coldcard breach. Meanwhile, in a separate development, Russia has legalized cryptocurrency, with President Putin signing a law to establish a regulated crypto market set to take effect in 2026.