10 Crypto Incidents In Last Week, Resulting In Nearly $20 Million Losses

Key Points:

  • 10 incidents in a week, costing $19.963 million, spotlight security threats in the crypto realm.
  • Hacks hit Hexagate, Zunami, Metis, Sei Network, Rocket Swap, and more, revealing broad vulnerabilities.
  • Ethereum and cross-chain platforms are affected; concerns grow over the crypto ecosystem’s safety.
Reports from the SlowMist reveal a concerning trend in security incidents over the past week, underscoring the vulnerabilities in the crypto landscape. Between August 14 and August 20, 2023, 10 incidents rocked the industry, resulting in significant financial losses reaching approximately $19.963 million.
10 Crypto Incidents In Last Week, Resulting In Nearly $20 Million Losses

The incidents spanned various protocols and platforms, highlighting the breadth of the challenges. Notably, the Hexagate platform experienced the exploitation of a single MEV Bot, leading to losses of around $200,000.

Ethereum’s Zunami Protocol fell victim to price manipulation attacks, resulting in the loss of 1,179 ETH, equating to about $2.2 million.

Further turmoil followed, with hackers targeting Ethereum scaling solution Metis’s official Twitter account and the Discord server of Sei Network.

Rocket Swap, a project within the Base ecosystem, suffered an attack, resulting in the theft of RCKT tokens valued at approximately $868,000, later converted to ETH and transferred to Ethereum.

Aug. 16 brought a significant breach as the SwirlLend lending protocol siphoned around $2.9 million from Base and $1.7 million from Linea. A security lapse in Made by Apes’ SaaSy Labs API also exposed personal information related to MBA applications.

On August 18, the Exactly Protocol, a DeFi lending platform, faced an attack that led to a staggering loss of over 7,160 ETH, or approximately $12.04 million. The following day, the cross-chain stablecoin protocol Harbor Protocol was exploited, resulting in the loss of multiple assets across different chains.

Closing out the turbulent week, Thales, a derivative market platform, announced a breach on August 20. A core contributor’s computer was compromised, leading to breaches in hot wallets totaling $25,000 and admin bots amounting to $10,000.

This surge in security incidents is a stark reminder of the evolving threats within the cryptosphere, prompting stakeholders to intensify efforts to fortify their systems against malicious actors.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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