CertiK: losses of crypto projects in July due to incidents amounted to $278.8 million

In July, cryptocurrency projects lost $278.8 million due to the actions of intruders - the second highest figure in 2024. Such calculations were brought to CertiK.

#CertiKStatsAlert 🚨

Combining all the incidents in July we’ve confirmed ~$270.9m lost to exploits, hacks and scams after ~$7.8m was returned.

The amount is the second highest monthly loss so far in 2024.

Exit scams: ~$3m
Flash loans: ~$265.8m
Exploits: ~$9.8m

More details… pic.twitter.com/FCXNe4sGiu

— CertiK Alert (@CertiKAlert) July 31, 2024

The structure looks like this:

Scam: ~$3 million;Hacks: ~$265.8 million;Instant loan attacks: ~$9.8 million

About $7.8 million of the total losses were recovered. This reduced the damage to $270.9 million.

The largest incident was the hacking of the Indian exchange Wazir X ($230 million). Next came the losses of the protocol Li.Fi ($11.6 million) and the Bittensor project ($8 million).

Instant loan attacks have also been marked by notable incidents. Among them are the losses of Rho Markets ($7.6 million), Doughfance ($3.1 million).

Recall that in June, CertiK revealed its involvement in the "white" hacking of Kraken.

Earlier, Cyvers experts estimated that CeFi accounted for 70% of losses from hacker attacks.

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