**Crypto Hackers Steal $313.86M in August: Industry on High Alert**

In August, cryptocurrency hackers made off with a staggering $313.86 million in digital assets across more than ten cyberattacks, casting shadows on the broader acceptance of crypto. Blockchain security firm PeckShield revealed that phishing attacks were the main culprits, accounting for 93.5% of the stolen funds, totaling $293.4 million.

Key incidents include two phishing attacks that drained $238 million in Bitcoin (BTC) and $55.4 million in Dai (DAI). Other notable losses involved the Ronin Network and DeFi protocol Nexera, which suffered $5.1 million and $1.83 million losses, respectively.

An Immunefi report highlighted that the crypto industry has lost $1.21 billion to hacks and rug pulls year-to-date as of August 2024. Among the victims, India's WazirX crypto exchange faced one of the largest cyberattacks, losing $234.9 million from a multi-sig wallet. WazirX is now implementing a phased recovery plan, including legal actions in Singapore.

In response to these threats, a team of ethical hackers has formed the SEAL (Security Alliance) unit to enhance industry defenses. Led by white hat hacker Samczsun, SEAL has tackled over 900 hack-related issues since its launch in August 2023. Despite these efforts, an Immunefi report noted that nearly 80% of cryptocurrencies never regain their value post-hack, underscoring the severe impact of these breaches.