According to blockchain security firm Immunfi’s 31 August report, this month crypto users faced hacking events of just 23.4 million dollars. But last month this figure was almost 320 million dollars. In comparison, it is so plausible result. Because it means decreasing cryptocurrency hacking.

All of the hacking and cyberattacks happened against DeFi (Decentralized Finance). But others, I mean centralized finance applications and protocols weren’t faced. As a result, Hacked Cryptocurrencies of 16 Million USD In August!

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In 21 reported security shows that 5 issues happened on Ethereum, 4 ones on Binance Smart Chain. But Base Network faced 4 cases like them after launching publicly. One of the biggest hackings is finalizing with 4.322 ETH. The hack is named “Exactly protocol hack”. The total hacking amount equals 7.2 Million Dollars.

Borrowing and Lending protocol Magnate Finance on Base Network was hacked for 6.5 million dollars. Leader DeFi inspector zachXBT argued that Magnat Finance’s address has a link to fraud. After the hacking event, all of the assets were withdrawn from the smart contract. Then their website and social media accounts were offline.

According to ImmunFi, users had losses of 1.25 billion dollars because of hacks and frauds. Euler Finance suffered losses of almost 200 million dollars in March. But Euler Finance achieved to refund by starting legal procedures.

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Furthermore, it appears that those responsible for SwirlLend rug pull, have executed the transfer of a significant volume of cryptocurrency from the Base blockchain to the Ethereum blockchain. To be precise, they have moved around $289.5K worth of various cryptocurrencies, encompassing 140.68 ETH and 32.6K USDC, from the Base platform to Ethereum. Additionally, they still retain approximately 92 ETH on the Base blockchain.

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Interestingly, even though Coinbase’s Base blockchain launched just a week ago with relatively limited secured capital, it has already experienced a collection of fraudulent activities and security breaches. SwirlLend, a lending protocol active on both Base and the recently established Linea chain, swiftly drained a combined total of $460,000 from these two chains right after its initiation, subsequently erasing its presence from social media platforms.

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