August Crypto Industry Loses $300 Million, Exploits Account for Majority
CryptoNewsTerminal Staff31 Aug, 2024
August Crypto Industry Loses $300 Million, Exploits Account for Majority
Exploits, hacks, and scams resulted in nearly $300 million in losses in August, the second-highest monthly total this year, according to security firm Certik. Of this, $10.3 million has been recovered. Exit scams accounted for $8 million, flashloans for $120 million, and exploits for $309 million. The report highlights the ongoing challenges faced by the crypto industry in safeguarding user funds and the need for improved security measures.
