Over $313 million in digital assets were stolen from the crypto industry in August 2024 due to more than 10 cyber attacks. Phishing attacks were the most prevalent, accounting for $293.4 million or 93.5% of the total losses.

Among the top hacks were two major phishing attacks that drained $238 million in Bitcoin and $55.4 million in Dai. The Ronin Network was also compromised, but $12 million was recovered from the hacker. Another $1.83 million was lost due to a smart contract exploit at the Nexera DeFi protocol.

In response to the growing threat, a group of ethical hackers formed the Security Alliance (SEAL) to strengthen the industry's defenses. However, an Immunefi report revealed that almost 80% of cryptocurrencies never recover their value after a hack or exploit.

Source: https://coinpaper.com/5277/over-300-million-stolen-in-august-crypto-hacks

The information provided in this article is for informational and educational purposes only, based on news and sources gathered from the internet. This content should not be considered as investment advice, financial guidance, or a suggestion to buy or sell any digital assets. Before making any financial decisions, we recommend consulting with a professional financial advisor and conducting your own research. The author and the blog are not responsible for any losses or damages that may arise from using this content.