Crypto Attacks: Over $45 Million Stolen in August, With Year-to-Date Losses Reaching $997 Million
Summary:
Malicious actors targeting the crypto space have stolen over $45 million in digital assets in August 2023, according to CertiK. Exit scams, flash loan attacks, and exploits were the primary methods used. Major incidents included the Zunami Protocol attack, Exactly Protocol exploit, and PEPE coin withdrawal. Overall, crypto-related losses in 2023 have reached $997 million. While still high, losses in August were lower compared to the previous month. Multichain, a platform involved in a major exploit, halted operations due to funding issues and the CEO being in custody.
In the month of August, malicious actors targeting the crypto space have successfully stolen over $45 million in digital assets, bringing the total losses for the year to $997 million, according to a report from blockchain security firm CertiK. The report highlights that exit scams made up $26 million of the losses, flash loan attacks accounted for $6.4 million, and exploits resulted in $13.5 million in stolen assets during August. CertiK confirms that these incidents collectively amounted to over $45 million in losses. Among the major incidents in August, the Zunami Protocol attack caused $2.2 million in losses, the Exactly Protocol exploit resulted in $7.3 million stolen, and the PEPE coin withdrawal incident led to $13.2 million in losses. Since the beginning of 2023, CertiK reports that over $997 million has been lost to various exploits, hacks, and scams. Flash loan attacks alone accounted for $261 million in losses, exit scams resulted in over $137 million in losses, and exploits led to more than $596 million in losses. However, despite still being substantial, the losses in August were significantly lower compared to the previous month. In July 2023, Web3 data outlet De.Fi recorded total losses of around $486 million, with the Multichain exploit alone contributing $231 million to the overall amount stolen. The Multichain team announced the halt of its operations in July, citing lack of funding and alternative sources of information, as their CEO was in custody of Chinese authorities and communication with him had become impossible.
Published At
9/1/2023 9:16:35 AM
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