An alarming rise in cyberattacks on digital currencies

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An alarming rise in cyberattacks on digital currencies


Last month, cryptocurrency hackers stole $313.86 million worth of digital currencies in more than 10 cyberattacks, raising questions about the broader adoption of the asset class. According to blockchain security firm PeckShield, phishing attacks alone were responsible for 93.5% of all stolen funds, resulting in a loss of $293.4 million. Among the five largest hacks in August, two phishing attacks resulted in the theft of $238 million worth of Bitcoin (BTC) and $55.4 million worth of Dai. Indian exchange WazirX also fell victim to one of the largest cyberattacks of 2024, losing $234.9 million through one of its multi-signature wallets.

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