The post Crypto Hacks Surge in August, $173M Lost in Exploits: CertiK appeared on BitcoinEthereumNews.com. Phishing attacks drove most losses, continuing a steady rise in monthly crypto incidents. Crypto hacks continued their upward trend in August, with approximately $173.2 million in total lost across exploits, up over 13% from July, according to security analytics firm CertiK. Phishing attacks alone accounted for roughly $101 million of the total, CertiK revealed earlier this week on X, formerly Twitter. A phishing attack refers to a type of social engineering scam when attackers impersonate trusted entities — often with disguised links or fake websites — to trick victims into revealing sensitive information, such as login credentials, credit card numbers, or other personal data. The largest incidents in August included a $91 million phishing scam and the $53 million BTC Turk exploit, which together represented around $144 million of the month’s total losses. By comparison, the month of July saw $153 million lost to hacks, while June’s total was around $111 million, showing a steady growth in monthly crypto thefts this summer. These figures reflect a concerning trend for the digital asset community, as attackers increasingly target both exchanges and individual users. The data suggests that while security measures have grown more sophisticated in some areas, basic attacks like phishing remain a threat. “This year alone, blockchain-based finance is on track to lose $4.5–5 billion to hacks, about 4% of all [digital] assets, and that’s before trillions in traditional assets start moving on-chain,” Mitchell Amador, CEO of Immunefi, told The Defiant in an email. “Social engineering in crypto is the most lucrative place in the history of mankind to do this kind of work.” Amador explained that this is the case because of large, organized groups running what he called “criminal tech startups,” whose only goal is to steal money. H1 Findings According to a separate report by CertiK from… The post Crypto Hacks Surge in August, $173M Lost in Exploits: CertiK appeared on BitcoinEthereumNews.com. Phishing attacks drove most losses, continuing a steady rise in monthly crypto incidents. Crypto hacks continued their upward trend in August, with approximately $173.2 million in total lost across exploits, up over 13% from July, according to security analytics firm CertiK. Phishing attacks alone accounted for roughly $101 million of the total, CertiK revealed earlier this week on X, formerly Twitter. A phishing attack refers to a type of social engineering scam when attackers impersonate trusted entities — often with disguised links or fake websites — to trick victims into revealing sensitive information, such as login credentials, credit card numbers, or other personal data. The largest incidents in August included a $91 million phishing scam and the $53 million BTC Turk exploit, which together represented around $144 million of the month’s total losses. By comparison, the month of July saw $153 million lost to hacks, while June’s total was around $111 million, showing a steady growth in monthly crypto thefts this summer. These figures reflect a concerning trend for the digital asset community, as attackers increasingly target both exchanges and individual users. The data suggests that while security measures have grown more sophisticated in some areas, basic attacks like phishing remain a threat. “This year alone, blockchain-based finance is on track to lose $4.5–5 billion to hacks, about 4% of all [digital] assets, and that’s before trillions in traditional assets start moving on-chain,” Mitchell Amador, CEO of Immunefi, told The Defiant in an email. “Social engineering in crypto is the most lucrative place in the history of mankind to do this kind of work.” Amador explained that this is the case because of large, organized groups running what he called “criminal tech startups,” whose only goal is to steal money. H1 Findings According to a separate report by CertiK from…

Crypto Hacks Surge in August, $173M Lost in Exploits: CertiK

Phishing attacks drove most losses, continuing a steady rise in monthly crypto incidents.

Crypto hacks continued their upward trend in August, with approximately $173.2 million in total lost across exploits, up over 13% from July, according to security analytics firm CertiK.

Phishing attacks alone accounted for roughly $101 million of the total, CertiK revealed earlier this week on X, formerly Twitter. A phishing attack refers to a type of social engineering scam when attackers impersonate trusted entities — often with disguised links or fake websites — to trick victims into revealing sensitive information, such as login credentials, credit card numbers, or other personal data.

The largest incidents in August included a $91 million phishing scam and the $53 million BTC Turk exploit, which together represented around $144 million of the month’s total losses. By comparison, the month of July saw $153 million lost to hacks, while June’s total was around $111 million, showing a steady growth in monthly crypto thefts this summer.

These figures reflect a concerning trend for the digital asset community, as attackers increasingly target both exchanges and individual users. The data suggests that while security measures have grown more sophisticated in some areas, basic attacks like phishing remain a threat.

“This year alone, blockchain-based finance is on track to lose $4.5–5 billion to hacks, about 4% of all [digital] assets, and that’s before trillions in traditional assets start moving on-chain,” Mitchell Amador, CEO of Immunefi, told The Defiant in an email. “Social engineering in crypto is the most lucrative place in the history of mankind to do this kind of work.”

Amador explained that this is the case because of large, organized groups running what he called “criminal tech startups,” whose only goal is to steal money.

H1 Findings

According to a separate report by CertiK from June 30, a total of $2.47 billion was lost across 344 incidents in the first half of the year (H1). Wallet compromises accounted for the most losses, totalling roughly $1.71 billion across 34 incidents, while phishing was the most frequent, responsible for $410.7 million over 132 attacks.

Ethereum suffered both in number and value of incidents, with 175 hacks, scams, and exploits on the second largest blockchain totaling $1.63 billion in losses. The total value of funds recovered reached $187.3 million, leaving adjusted losses of $2.29 billion for H1 2025. Still, it’s worth noting that Q2 recorded a 52% drop in losses compared with Q1.

In August, a single crypto user lost over $3 million in USDT after unknowingly giving malicious actors access to their wallet, in what appeared to be a phishing scam involving a fake version of lending protocol Aave.

Source: https://thedefiant.io/news/hacks/crypto-hacks-surge-in-august-usd173m-lost-in-exploits-certik

Market Opportunity
Bitcoin Logo
Bitcoin Price(BTC)
$95,566.77
$95,566.77$95,566.77
+1.03%
USD
Bitcoin (BTC) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Michigan’s Stalled Reserve Bill Advances After 7 Months

Michigan’s Stalled Reserve Bill Advances After 7 Months

The post Michigan’s Stalled Reserve Bill Advances After 7 Months appeared on BitcoinEthereumNews.com. After seven months of inactivity, Michigan’s Bitcoin Reserve Bill, HB 4087, made progress Thursday by advancing to the second reading in the state House of Representatives. The bill, introduced in February, aims to establish a strategic bitcoin BTC$115,427.11 reserve by authorizing the state treasury to invest up to 10% of its reserves in the largest cryptocurrency and possibly others. It has now been referred to the Committee on Government Operations. If approved, Michigan would join the three states — Texas, New Hampshire and Arizona — that have enacted bitcoin reserve laws. While Texas allocated $10 million to purchase BTC in June, the other two have yet to fund the reserve with state money. Recently, the U.S. House directed the Treasury Department to study the feasibility and governance of a strategic bitcoin reserve, including key areas such as custody, cybersecurity and accounting standards. Sovereign adoption of bitcoin has emerged as one of the defining trends of 2025, with several U.S. states and countries considering or implementing BTC reserves as part of their public finance strategy. That’s in addition to the growing corporate adoption of bitcoin in company treasuries. This institutional embrace has contributed to a significant boost in bitcoin’s market valuation. The BTC price has increased 25% this year, and touched a record high near $124,500 in August, CoinDesk data show. Despite the enthusiasm, skeptics remain concerned about the risks posed by bitcoin’s notorious price volatility. Source: https://www.coindesk.com/policy/2025/09/19/michigan-s-stalled-bitcoin-reserve-bill-advances-after-7-months
Share
BitcoinEthereumNews2025/09/20 04:26
DeFi Leaders Raise Alarm Over Market Structure Bill’s Shaky Future

DeFi Leaders Raise Alarm Over Market Structure Bill’s Shaky Future

US Senate Postpones Markup of Digital Asset Market Clarity Act Amid Industry Concerns The proposed Digital Asset Market Clarity Act (CLARITY) in the U.S. Senate
Share
Crypto Breaking News2026/01/17 06:20
BlackRock shifts $185B model portfolios deeper into US stocks and AI

BlackRock shifts $185B model portfolios deeper into US stocks and AI

BlackRock is steering $185 billion worth of model portfolios deeper into US stocks and artificial intelligence. The decision came this week as the asset manager adjusted its entire model suite, increasing its equity allocation and dumping exposure to international developed markets. The firm now sits 2% overweight on stocks, after money moved between several of […]
Share
Cryptopolitan2025/09/18 00:08