These Were Top Crypto Hacks of July

According to data provided by blockchain security company PeckShield, a whopping $266 million worth of crypto was stolen by hackers last month. 

Of course, the WarizX hack comes at the top of the list. The prominent centralized Indian exchange lost $266 million worth of crypto. As reported by U.Today, the Shiba Inu (SHIB) meme cryptocurrency accounted for nearly half of the crypto assets that were stolen from the exchange. Recently, the exchange launched a recovery plan that allows users to immediately get access to 55% of their assets. 

Related

Sat, 06/01/2024 - 10:19

$300 Million in Bitcoin Lost After Major Japanese Crypto Exchange Hack

Dan Burgin

The $24 million hack of decentralized cryptocurrency borrowing and lending platform Compound comes in second place with $24 million worth of crypto. 

Berlin-based cryptocurrency trading aggregator LI.FI comes in third place with $8 million. As reported by U.Today, the protocol's prebridge swapping feature ended up being exploited once again. 

Minterest, MonoSwap, and DeltaPrime are also among the projects that had to deal with notable hacking incidents earlier this year.    

More hacking incidents 

Earlier this month, cryptocurrency research firm TRM Labs revealed that a whopping $1.38 billion worth of crypto had been stolen by hackers in the first half of the year. This is substantially more compared to the previous year. However, the difference can be explained by increasing cryptocurrency prices rather than the worsening security within the cryptocurrency sector.     

In 2023, cybercriminals stole a total of $1.7 billion worth of crypto from such projects as Euler Finance, Mixin Network, Poloniex, and so on. North Korea's cryptocurrency hacking activity reached a record peak last year, according to data provided by blockchain sleuth Chainalysis.