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Crypto Hacks Cause $25.4 Million Loss in Early September, $14.4 Million Recovered

Blockchain security firm CertiK reported $25.4 million lost to hacks in the first week of September, with $14.4 million recovered or frozen, surpassing recovery levels from July and August.

Summary

CertiK reported that $25.4 million was lost to hacks in the first week of September. Out of this, $14.4 million was either recovered or frozen, a figure higher than what was achieved in July and August. The data underscores both the ongoing threat of hacks in the crypto sector and improvements in recovery efforts.

Terms & Concepts
  • Hack: A security breach or exploit in blockchain or cryptocurrency platforms leading to unauthorized fund losses.
  • Recovery: The process of retrieving stolen assets or freezing them to prevent further misuse after a hack.
  • CertiK: A blockchain security firm that provides auditing and monitoring services to identify vulnerabilities and track exploits in crypto ecosystems.