August Web3 Security Incidents: $316 Million in Losses

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Major Incidents
  2. Significant Attacks
  3. Summary


    4. In August 2024, the total losses from Web3 security incidents were estimated at around $316 million. According to SlowMist Hacked Archives, 28 hacking incidents were recorded, resulting in about $253 million in losses, with $13.58 million being recovered. The incidents were caused by various factors, including contract vulnerabilities, account compromises, and frontend attacks.

    Major Incidents

    Scam Sniffer indicates that there were 9,145 phishing victims this month, with total losses of $62.93 million.

    Significant Attacks

    Major hacks included attacks on Convergence Finance, Ronin, Nexera, and other projects. On August 1, Convergence Finance lost $210,000 in an attack, and on August 6, Ronin suffered a $12 million loss.

    Summary

    Account security issues became a significant risk area, accounting for 64.3% of all incidents. The importance of verifying the authenticity of messages and exercising caution when investing was emphasized by the SlowMist Security Team.

    In August 2024, Web3 security incidents demonstrated significant risks and losses. Users need to exercise caution and diligence to protect their assets.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

Pirate Chain Developers Report Major Vulnerability

Pirate Chain developers disclosed a significant vulnerability leading to the creation of approximately 398 million unauthorized ARRR tokens, raising urgent questions about network supply and trust.

user avatarSatoshi Nakamura

Crypto King Aiden Pleterski Faces Criminal Charges Over Misuse of Investor Funds

A Canadian court hears evidence that Aiden Pleterski misused investor funds for personal expenses.

user avatarJesper Sørensen

BinanceUS Seeks $100 Million in Fundraising Round

BinanceUS is reportedly pursuing a $100 million fundraising round at a valuation of approximately $1 billion to strengthen its position in the American cryptocurrency market.

user avatarRajesh Kumar

Consulting Arrangement Raises Questions About Tether and Bo Hines

A reported $63 million consulting arrangement between Tether and Nxum, linked to former White House adviser Bo Hines, has sparked concerns over potential conflicts of interest.

user avatarLucas Weissmann

Arbitrum Engages European Financial Institutions on Blockchain Infrastructure

Arbitrum representatives presented the network's infrastructure and revenue model to European financial institutions managing substantial assets, discussing its commercial potential and the value of blockchain services.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.