In August, hackers stole over $163 million from the cryptocurrency sector across 16 attacks, marking a notable increase compared to previous months. The losses were largely attributed to a social engineering scheme that targeted a Bitcoiner, leading to the loss of 783 Bitcoin worth $91 million at the time. The Turkish crypto exchange Btcturk also suffered significant losses due to attackers breaching its hot wallets. This rise in theft is linked to a strategic shift by hackers who are now focusing on high-value targets as crypto prices surge. August saw Bitcoin and Ethereum reach new all-time highs, which heightened the appeal of centralized wallets as targets. Despite the increase in monetary losses, the total number of hacks showed a slight decline from previous months, suggesting potential improvements in security measures within the crypto ecosystem. Looking ahead, experts warn that as crypto prices continue to soar, the prevalence of attacks may rise unless robust security technologies are implemented.

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