Over $313M was lost in crypto hacks in August, phishing attacks were the primary method.
Two major phishing incidents accounted for 93.5% of the total losses.
The crypto community is urged to strengthen security measures against increasing cyber threats.
August 2024 proved to be a challenging month for the crypto industry, with more than $313 million lost to over ten separate hacks, according to a recent report by PeckShieldAlert. The month was marked by a series of high-profile phishing attacks that accounted for the vast majority of the stolen funds.
#PeckShieldAlert August 2024 witnessed 10+ hacks in the crypto space, resulting in ~$313.86 million in losses. The 2 largest hacks, both involving unauthorized transfers (#Phishing), accounted for 93.5% of the total stolen funds, amounting to $293.4 million.#Top 5 Hacks in… pic.twitter.com/lIAieHdUqt
— PeckShieldAlert (@PeckShieldAlert) September 1, 2024
Massive Phishing Attacks Lead the Charge
The report reveals that the two largest incidents were both phishing attacks, together accounting for an astonishing 93.5% of the total losses for the month. The largest phishing incident result…
The post August Sees Over $313M Lost to Crypto Hacks, Phishing Attacks Dominate appeared first on Coin Edition.
