Losses in cryptocurrencies due to hacks during the month of July amount to $266 million

Through 16 attacks in the month of July, cryptocurrency hackers were executed, causing losses amounting to $266 million.

According to reports, on July 8, the Indian exchange WazirX lost more than $230 million after a hacker attack. This case represents 86.4% of the total cryptocurrency lost that month.

According to the blockchain research company PeckShield, the funds stolen from WazirX, totaling 61,154 Ether, are still under the hacker’s control.

Others affected by this theft method are “the algorithmic protocol Compound Finance (USD 24 million), the bridge protocol Li.Fi (USD 10 million), the decentralized AI protocol Bittensor and the liquidity provider Rho Markets (USD 8 million each). one).”

The usual methodology of attackers, once they get hold of cryptocurrencies, is to move the funds to the Tornado Cash mixer so that their actions are undetected and untraceable.

In the opinion of Deddy Lavid, co-founder and CEO of the security firm Web3 Cyvers, the main target of cryptocurrency hackers this year are centralized financial entities (CeFi).

M.Pino

Source: cointelegraph

(Reference image source: Unsplash+, in collaboration with Getty Images)

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