Bilal Hüseynov 
Hacked Cryptocurrencies of 16 Million USD In August! After releasing Coinbase’s Layer 2 Solution Base Network there were 4 security and hack events. In total hacked cryptocurrency of 15.8 million dollars. It happened using various methods like rug pull, scamming, phishing, etc.
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 After the hacking event, all of the assets were withdrawn from the smart contract.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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