In July, online hackers stole approximately $266 million from the cryptocurrency ecosystem and its investors in 16 separate attacks.

On July 18, Indian crypto exchange WazirX lost more than $230 million as a result of a massive hack. Independent investigations revealed that this attack was carried out by North Korean hackers. According to PeckShield, 61,154 stolen Ether (ETH) are still under the control of hackers.

Other notable victims include Compound Finance ($24 million), Li.Fi protocol ($10 million), Bittensor and Rho Markets ($8 million each). In many cases, hackers moved the stolen funds to crypto mixers like Tornado Cash, thus covering their tracks.

In June, a total of $176 million was lost in 20 incidents. Losses in July exceeded this figure.

Centralized crypto assets continue to be the biggest target of hackers. On the last day of July, the Terra blockchain was temporarily halted after a $6 million hack. Terra developers did a chain upgrade and restarted production the same day.

Centralized finance (CeFi) assets will be the top target in 2024, according to Deddy Lavid, co-founder and CEO of Web3 security firm Cyvers. Lavid stated that attacks on smart contract-based projects have also increased.

How do you think these attacks affect the crypto ecosystem? Share your thoughts in the comments.