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In August 2024, the cryptocurrency industry experienced significant losses totaling over $313 million due to various cyberattacks, marking one of the most substantial monthly losses in recent times. The majority of these losses, around $293.4 million, were the result of just two major phishing attacks, accounting for 93.5% of the stolen funds. Additionally, other notable incidents included the Ronin Network exploit, which resulted in unauthorized transactions worth $5.1 million, and the Nexera protocol losing $1.83 million due to a smart contract vulnerability.
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