Key Takeaway:
Increased cryptocurrency losses to hackers and phishing attacks, with $313.86 million lost in August and a significant amount due to phishing attacks.
18% rise in crypto assets lost to fraudulent actors compared to July, with the biggest hack targeting a whale losing $238 million in Bitcoin.
Several other significant hacks including a $55 million loss in Dai stablecoin to phishing attacks and a $10 million exploit on the Ronin Network.
Hackers targeting whales
One whale lost 4,064 Bitcoin to a phishing attack on Aug. 19, moving funds to various crypto platforms. Another whale lost over $55 million in Dai stablecoin stored in the Maker DeFi protocol.
Whitehat hackers returning funds
A $10 million exploit on the Ronin Network was not malicious but due to a bug which whitehat hackers exploited. The funds were returned, and the bug was reported to the developers for a bug bounty. Other unauthorized transactions worth millions also occurred in August.
