Crypto Hacks Cost $163mln in August as Thieves Target Big Players

Hackers and scammers stole more than $163 mlnn from the crypto sector in August, according to blockchain security firm PeckShield. Losses rose 15% from July’s $142 mln but were still nearly half of what was recorded a year ago.

The biggest hit came from a social engineering scam against a Bitcoiner, who lost 783 BTC — worth about $91 mln at the time. Turkish exchange Btcturk was also breached, with attackers taking nearly $50 mln from its hot wallets.

PeckShield noted that while the number of monthly hacks is trending downward, criminals are shifting to high-value targets such as centralized exchanges and wealthy individuals.

Kronos Research CEO Hank Huang told Cointelegraph that crypto exploits often rise when prices surge. Both Bitcoin and Ether hit new all-time highs in August, making attacks more lucrative.

Experts warn that security technology is still lagging behind, but advances in AI-driven protections could help reduce losses in the future.

Kursiv Uzbekistan also reports that Nvidia on Wednesday reported a 56% jump in second-quarter revenue and a 59% rise in net income compared with last year.