CRYPTO HACKS COST $313.86M IN AUGUST: WHAT WE KNOW

- August has been a brutal month for the crypto industry, with over $313 million in digital assets stolen across more than ten separate hacks, according to PeckShield.

Key Stats:

- Total Loss: $313.86 million.
- Phishing Attacks: Responsible for 95% of the stolen funds, totaling about $293.4 million.

Top Hacks:

- Two phishing attacks drained $238 million in Bitcoin and $55.4 million in Dai.
- The Ronin Network exploit resulted in a $5.1 million loss, though $12 million was recovered.
- Nexera, a DeFi protocol, lost $1.83 million due to a smart contract exploit.

Ongoing Concerns:

- According to Immunefi, $1.21 billion in digital assets have been lost to hacks and rug pulls as of August 2024.

- In July, WazirX suffered a major breach, losing $234.9 million from a multisig wallet. The exchange is working on a phased recovery plan and legal action in Singapore.

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