$313m in crypto lost to hackers, phishers in August đ€Żđ”
According to an X post by blockchain security firm Peck Shield, the crypto ecosystem lost $313.86 million in over 10 different hacks last month. Of this tally, over $293 million was lost to phishing attacks.
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.
PeckShieldAlert  September 1, 2024
This shows an 18% increase in crypto assets lost to fraudulent actors since July. Per a crypto.news report, crypto and decentralized finance companies lost $266 million to hackers with a total of 16 events.
The largest hack belongs to a whale that lost 4,064 Bitcoin btc-1.15%Bitcoin, worth roughly $238 million, to a phishing attack on Aug. 19. The attacker soon moved the funds to various crypto platforms including THORChain, KuCoin and Railgun.
Quite similarly, another whale lost over $55 million in Dai dai0.15%Dai stablecoin to a phishing attack. Data shows that the funds were stored in the fourth-largest DeFi protocol Maker.
Per on-chain data, the hacker has swapped the funds to Ethereum eth-1.27%Ethereum and currently doesnât have any assets left in the address used for the attack.
On Aug. 6, Ronin Network saw a malicious 4,000 ETH transaction, worth $10 million. Luckily, the attack wasnât engineered by fraudulent actors, instead, whitehat hackers exploited a Maximum Extractable Value bug.
The hackers soon returned the funds and pointed out the bug to Ronin Networkâs developers. Subsequently, the company hinted at a $500,000 reward for the whitehat hackers as a bug bounty.
Another unauthorized transaction worth $5.1 million and Nexeraâs $1.8 million exploit secured the fourth and fifth spots among the largest hacks in August, per PeckShield.
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