Cryptocurrency Hacker $313.86 million worth of crypto assets were lost in more than 10 cyberattacks in August, casting doubt on the asset class’ wider acceptance. Phishing attacks alone accounted for 93.5% of all stolen crypto funds, leading to a loss of $293.4 million, according to a report by blockchain security firm PeckShield.
What Happened in August?
Two of the five biggest attacks in August involved $238 million worth of Bitcoin and $55.4 million worth of Dai being stolen in a phishing attack. Other notable losses included $12 million recovered from hackers but $5.1 million worth of unauthorized crypto transactions Ronin Network The decentralized finance protocol Nexera also suffered a loss of $1.83 million due to a smart contract vulnerability. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
According to an Immunefi report published on August 29, the crypto industry has seen $1.21 billion worth of crypto assets lost to hacks and rug pulls since the beginning of August 2024.
India in July WazirX The crypto exchange was the victim of one of the largest cyberattacks of 2024. WazirX lost $234.9 million in funds from one of its multi-signature wallets. The exchange is currently in the process of implementing a phased plan to restore its financial operations. WazirX’s restructuring efforts include pursuing legal action in Singapore.
Details on the Subject
To protect the cryptocurrency industry from financial losses caused by hacks, a team of ethical hackers has formed an elite unit to strengthen defenses and prevent breaches. The anti-hack response team is led by Security Alliance or SEAL white hat hacker and Paradigm researcher Samczsun and has received over 900 hack-related reports since it was launched in August 2023.
A letter dated August 22 Immunofluor According to the report, around 80% of cryptocurrencies never regain their value after a hack or exploit. This loss of value often harms projects more than the exploit itself.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
