According to PeckShield, August saw a major spike in attacks on crypto projects: the number of incidents jumped 67% to 50 cases, up from 30 in July. Still, the industry’s total losses actually dropped by half—from $270 million in July down to $136 million in August.

Key Numbers This Month

There were more successful hacks, but the overall damage was lower compared to the previous month. This shift suggests a new trend: more incidents, but smaller losses per hack.

Biggest Exploit: Tectonic

PeckShield flagged Tectonic as the largest exploit in August. You can find more details and stats on other notable cases in the analysts’ report.

What This Means for the Market

For teams and investors, this is a wake-up call to rethink risk monitoring strategies. A bigger wave of hacks doesn’t always mean bigger losses, but it does ramp up the pressure on security and incident response teams.