August Web3 Security Incidents: $316 Million in Losses

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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.

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