CertiK Reports $278.8 Million Loss in Cryptocurrency Incidents for July

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.

#CertiKStatsAlert ?

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: ~$9.8m

More 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.