Two crypto projects were hit by exploits this week, adding to what is already a record-breaking year for the number of attacks. On July 26, WEMIX reported abnormal transactions that saw about 5.2 million WEMIX$ tokens issued without authorization. The attacker converted those into 30,736 WEMIX and 724,198.27 USDC.e, then moved funds across bridges to Ethereum and BSC, and further into ETH and USDT. Some assets ended up on centralized exchanges. Separately, Garden Finance took its app offline after identifying unusual activity; Blockaid flagged an exploit draining roughly $450,000 in USDT across Ethereum, Base, Arbitrum, and BSC.
The WEMIX incident
WEMIX responded by temporarily suspending all bridges connected to and from WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. The team also asked exchanges and stablecoin issuers to freeze the attacker's wallets. The unauthorized issuance and conversion happened quickly, and the attacker used multiple bridges to spread the funds. It's not clear yet how much of the stolen value can be recovered.
Garden Finance goes offline
Garden Finance's app went dark after the team spotted unusual activity. Blockaid, a security firm, identified the exploit as draining about $450,000 in USDT across four chains. The project hasn't said when the app will be back up or whether user funds will be reimbursed. The timing isn't great — the industry is already on edge after a string of high-profile hacks this year.
Hack frequency hits new high
TRM Labs recorded 207 hacks in the first half of 2026, more than double the 83 in H1 2025. That's the highest number of attacks in any six-month period on record. But total losses tell a different story: about $972 million in H1 2026, down from roughly $2.3 billion in H1 2025. So while the number of incidents is up sharply, the average haul per hack is smaller. That could mean attackers are going after smaller targets more often, or that defenses are improving for the biggest protocols.
A busy week for exploits
Lookonchain counted three attacks in the last week of July 2026 totaling $35.55 million. The targets were AFX Trade, the Verus Ethereum bridge, and B2 Network. Combined with the WEMIX and Garden Finance incidents, it's been a rough few days for crypto security. The WEMIX attacker is still at large, and the frozen wallet requests may or may not be honored by exchanges. For now, the industry is left counting the damage and waiting for the next incident.
