August was a hard month for the crypto industry, with hackers stealing about $313 million in digital assets through more than ten different attacks.
PeckShield, a blockchain security company, reports that phishing attacks were responsible for most of the losses, taking about $293.4 million, which is 95% of the stolen money.
Another big loss came from the attack on Roin Network. While $12 million of the stolen funds was recovered, there were still $5.1 million in unauthorized transactions.
Nexera, a decentralized finance protocol, also lost $1.83 million because of a problem with a smart contract.
Immunefi, a security company, reported on Aug. 29 that hacks and scams in the crypto world have caused total losses of $1.21 billion.
Biggest attacks on Crypto exchange WazirX
One of the biggest attacks this month was on WazirX, an Indian crypto exchange. It lost $234.9 million from one of its wallets. People are worried that the exchange might go bankrupt soon.
The exchange is working to restore its operations and is taking legal action in Singapore as part of its recovery plan.
The report also says that many of these cryptocurrencies never fully regained their value after being hacked. About 80% of them did not recover.
