In July, cryptocurrency projects suffered losses amounting to $278.8 million due to malicious activities — the second largest figure in 2024, according to calculations by CertiK.
Combining all the incidents in July we’ve confirmed ~$270.9m lost to exploits, hacks and scams after ~$7.8m was returned.
The amount is the second highest monthly loss so far in 2024.
Exit scams: ~$3m
Flash loans: ~$265.8m
Exploits: ~$9.8mMore details… pic.twitter.com/FCXNe4sGiu
— CertiK Alert (@CertiKAlert) July 31, 2024
The breakdown is as follows:
- scams: ~$3 million;
- hacks: ~$265.8 million;
- flash loan attacks: ~$9.8 million.
Approximately $7.8 million of the total losses were recovered, reducing the damage to $270.9 million.
The largest incident was the hack of the Indian exchange Wazir X ($230 million). This was followed by losses from the Li.Fi protocol ($11.6 million) and the Bittensor project ($8 million).
Flash loan attacks also featured significant incidents, including losses at Rho Markets ($7.6 million) and Dough Finance ($3.1 million).
Back in June, CertiK revealed involvement in a “white” hack of Kraken.
Earlier, Cyvers specialists estimated that CeFi accounted for 70% of losses from hacker attacks.