August was a very tough month for the crypto industry as hackers reportedly stole about $313 million in digital assets in over ten separate attacks. Crypto Space Lost $313.86 Million to Hackers Last Month
According to PeckShield, a blockchain security company, phishing attacks were responsible for most of these losses accounting for 95% of the stolen funds, which totals around $293.4 million.
Another significant loss is the exploitation of Roin Network. Although $12 million of the stolen funds was recovered, there were still unauthorized transactions totaling $5.1 million.
In addition, Nexera, a decentralized finance protocol also suffered 1.83 million losses due to a smart contract issue.
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Adding to this number of losses, Immunefi, a security company, released a report on Aug. 29 that the total losses from hacks and rigs pull in the crypto space have reached $1.21 billion.
The report also many of these cryptocurrencies never fully recovered their values after being hacked, with about 80% of them failing to bounce back
One of the largest attacks seen this month was the exploit of WazirX. The India-based crypto Exchange lost $234.9 million from one of its wallets. This has raised a major concern in the crypto industry as people speculate that the exchange might soon go bankrupt. Crypto Space Lost $313.86 Million to Hackers Last Month
However, the exchange is currently working on restoring its operation and is pursuing legal action in Singapore as part of its recovery plan
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