Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Malicious entities targeting the cryptocurrency sector have stolen over $45 million in digital assets from their victims just in August, accumulating a staggering total of $997 million year-to-date (YTD), as per a report released by the blockchain security company CertiK.
In the report, CertiK noted that exit scams accounted for approximately $26 million, flash loan attacks resulted in $6.4 million, and exploits led to $13.5 million in losses in August 2023. The cybersecurity firm confirmed that the cumulative losses exceeded $45 million.
Major incidents that occurred in August. Source: CertiK
CertiK highlighted that some significant incidents contributing to the total losses included the Zunami Protocol attack, which resulted in losses of $2.2 million; the Exactly Protocol exploit, which took away $7.3 million; and the PEPE (PEPE) withdrawal incident, leading to $13.2 million in losses.
Related Posts
According to CertiK, over $997 million has been lost to exploits, hacks, and scams throughout 2023 thus far. This encompasses approximately $261 million lost to flash loan attacks, more than $137 million lost to exit scams, and upwards of $596 million lost to exploits.
Related: CertiK reveals findings on alleged scammer who embezzled $1M in cryptocurrency
Although the losses in August remain significant, they are considerably lower compared to the losses recorded in the preceding month. In July 2023, approximately $486 million in total losses were documented by Web3 data platform De.Fi, with the Multichain exploit alone accounting for around $231 million of the total losses.
Amid various influencing factors, Multichain officially declared the suspension of its operations on July 14. The team attributed the closure to a lack of operational funding and insufficient alternative sources of information. According to the team, they were unable to reach the CEO since he had been detained by Chinese authorities.
Magazine: $3.4B of Bitcoin in a popcorn tin — The Silk Road hacker’s narrative
