Crypto Hackers Surpass $1.2 Billion Stolen in 2023

IconCryptoNewsTerminal Staff29 Aug, 2024

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Crypto Hackers Surpass $1.2 Billion Stolen in 2023

A new report from web3 bug bounty platform and security firm Immunefi has revealed that cryptocurrency-related hacks have surpassed $1.2 billion so far this year, a 15.5% increase year-over-year through August. Despite the surge in stolen funds, the number of monthly hacks has significantly declined. Hackers made off with over $15 million in August, a 94% decrease from July's $274 million haul. While crypto-targeting hackers are on pace to surpass last year's activity by 2024, the decline in monthly hacks suggests that security measures are improving and making it more difficult for attackers to exploit vulnerabilities.

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