Crypto Losses Fall to Record Low of $15 Million in August

According to blockchain security firm Immunefi, the digital asset industry's monthly losses in August were the lowest of the year, with just $15.1 million in losses due to hacking and fraud. This development represents a dramatic 38 percent drop in losses compared to August 2023, when losses were around $24.6 million, and a staggering 94.5 percent drop in losses compared to July 2024, the report said. The hacking all occurred in the DeFi space, but the majority of the losses stemmed from one high-profile incident, the Ronin Bridge vulnerability, which resulted in $12 million in losses, according to the report. However, those funds were later returned because the “attack” was orchestrated by white hat hackers.