More than $313 million was lost in August due to cryptocurrency attacks, with phishing attacks predominating.

In August, more than $313 million was lost in cryptocurrency attacks, with phishing attacks being the main method.

Two major phishing incidents accounted for 93.5% of total losses.

The crypto community is urged to strengthen security measures in the face of increasing cyber threats.

August 2024 proved to be a tough month for the cryptocurrency industry, with over $313 million lost in more than ten separate attacks, 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 In August 2024, there were more than 10 hacks in the crypto space, resulting in losses of approximately $313.86 million. The 2 largest attacks, both related to unauthorized transfers (#Phishing), accounted for 93.5% of the total stolen funds, amounting to $293.4 million.#Top5Hacks in… pic.twitter.com/lIAieHdUqt

— PeckShieldAlert (@PeckShieldAlert) 1 de septiembre de 2024

Massive phishing attacks lead the charge

The report reveals that the two largest incidents were phishing attacks, which together accounted for a staggering 93.5% of the month’s total losses. The largest phishing incident was the result of a phishing attack.

The post Over $313M Lost to Cryptocurrency Hacks in August, Phishing Attacks Dominate appeared first on Coin Edition.