August, the month that will go down in crypto history as “Hackaugust-2022”.

Three days into August and it’s already been a shit show.

First hack of the month – Nomad loses almost $200 million in first decentralized heist.

> Nomad is known as a “bridge,” where users can transfer tokens from one blockchain to another. Hackers exploited a security flaw that let users enter any value into the system and siphon off the funds, even if there weren’t enough assets available in Nomad’s deposit base.

Second hack of the month – Hot wallets connected to Solana blockchain get drained for over $5.2 million.

> Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including Solana’s sol token and (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic’s estimate is slightly higher at 7,936 wallets.

Third hack of the month – Crypto Exchange ZB has reportedly been exploited for $4.8 million

> The crypto exchange had announced the halting of withdrawals yesterday and then this followed. Reports from PeckShield show that around $4.8 million worth of crypto assets were transferred from its hot wallet, which is considered to be a possible hack.

It can’t get any worse right?

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16 thoughts on “August, the month that will go down in crypto history as “Hackaugust-2022”.”

  1. No wonder btc is still in 23k ffs..see how much wall street has rallied the past month which should have pushed btc to at least 26k if not 28k

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  2. How was the nomad attack the first decentralized heist when something very similar happened on osmosis where when you bonded assets to provide liquidity there was a glitch were u could pull out double the amount u put in.

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