Million

Ronin

Security

WazirX

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/hackers-steal-313-86-million-in-crypto-assets-in-august/" data-wpel-link="internal">Hackers Steal $313.86 Million in Crypto Assets in August</a><br></p>
<p class="p1" style="text-align: justify">Due to cryptocurrency <strong>hacker</strong> attacks, over $313.86 million in crypto assets were lost in more than 10 cyber attacks in August, raising doubts about the broader acceptance of the asset class. According to a report by blockchain security firm PeckShield, phishing attacks alone accounted for 93.5% of all stolen crypto funds, leading to a loss of $293.4 million.</p> 
<h2 class="p1" style="text-align: justify" id="what-happened-in-august">What Happened in August?</h2> 
<p class="p1" style="text-align: justify">Two of the five largest attacks in August involved the theft of $238 million in <a href="https://en.coin-turk.com/germanys-btc-sales-impact-bitcoin-price/" data-wpel-link="internal">Bitcoin</a> and $55.4 million in Dai through phishing attacks. Other significant losses included the Ronin Network vulnerability, which recovered $12 million from hackers but suffered unauthorized crypto transactions worth $5.1 million. The decentralized finance protocol Nexera also faced a loss of $1.83 million due to a smart contract vulnerability.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384731 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/peckshield.webp" alt="" width="847" height="804"></p> 
<p class="p1" style="text-align: justify">According to an Immunefi report published on August 29, the crypto industry saw $1.21 billion worth of crypto assets lost to hacks and rug pulls since the beginning of the year as of August 2024.</p> 
<p class="p1" style="text-align: justify">In July, India’s <strong>WazirX</strong> crypto exchange fell victim to one of the largest cyber attacks of 2024. WazirX lost $234.9 million from one of its multi-signature wallets. The exchange is currently in the process of implementing a phased plan to restore its <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial</a> operations. WazirX’s restructuring efforts include pursuing legal actions in Singapore.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384730" src="https://coin-turk.com/wp-content/uploads/2024/09/wazir.webp" alt="" width="500" height="353"></p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-issue">Details on the Issue</h2> 
<p class="p1" style="text-align: justify">To protect the cryptocurrency industry from financial losses due to hacks, a team of ethical hackers has formed an elite unit to strengthen defenses and prevent breaches. The anti-hack response team, Security Alliance or SEAL, is led by white-hat hacker and Paradigm researcher Samczsun and has received over 900 hack-related reports since its launch in August 2023.</p> 
<p class="p1" style="text-align: justify">According to an Immunefi report dated August 22, approximately 80% of cryptocurrencies never regain their value after a <a href="https://newslinker.co/what-is-cybersecurity/" target="_blank" rel="noopener" data-wpel-link="exclude">hack</a> or exploit. This loss in value often causes more damage to projects than the exploit itself.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/hackers-steal-313-86-million-in-crypto-assets-in-august/" data-wpel-link="internal">Hackers Steal $313.86 Million in Crypto Assets in August</a></h5>
<p>The post <a href="https://en.coin-turk.com/hackers-steal-313-86-million-in-crypto-assets-in-august/" data-wpel-link="internal">Hackers Steal $313.86 Million in Crypto Assets in August</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Hackers Steal $313.86 Million in Crypto Assets in August

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