In July 2024, the cryptocurrency sector faced attacks totaling $266 million, a 51% increase from June. The most significant breach was WazirX’s $230 million loss to North Korean hackers.
Compound Finance suffered a $24 million governance attack, while LI.FI lost $9.73 million. Bittensor, Rho Markets, and Terra also reported substantial losses.
This surge in attacks highlights the growing vulnerability of decentralized protocols, emphasizing the urgent need for enhanced security measures in the crypto industry.
