Crypto Hacks and Scams Cost $300 Million in August

by Margarita Armstrong

In August, roughly $310.9 million turned into as soon as misplaced to exploits, hacks, and scams. Nonetheless, digital sources price $10.3 million had been recovered, main to a gain loss of $300.6 million. In accordance to the protection company Certik, that is the 2nd-perfect monthly loss in 2024 to this level. Whereas Could per chance per chance per chance furthermore had the best exploit entire loss of correct over $324 million April had the lowest loss in 2024 at $21 million. Phishing attacks accounted for the broad majority of losses, totalling $293 million, severely overshadowing other exploits ($15.8 million). Flash mortgage attacks resulted in losses of roughly $1.2 million, with one incident accounting for virtually all of that quantity. Here is the third-lowest in 2024. Exit scam losses, which peaked at virtually $60 million in February, dropped from $3.1 million in July to $0.8 million in August.

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