Crypto▼ Bearish
Crypto Hack Losses Hit $110M in July Even as Bounty Reports Climb
Crypto hacks drained $110M in July, per Immunefi, even as bug bounty submissions rose. A single flaw can still trigger big losses despite more white-hat reporting.
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Crypto losses from hacks reached $110 million in July, a month that also saw a rise in bug bounty activity, according to security platform Immunefi. The total covers exploits recorded across the sector during the month, based on data compiled by Immunefi's research team.
The figure lands in the nine-figure range even as more independent researchers submitted vulnerability disclosures to protocols. Immunefi runs a bug bounty platform that pays white-hat researchers to find flaws before malicious actors can exploit them.
A single unpatched contract flaw or a compromised key can still produce a large loss, which is why the July total stayed elevated even as reporting activity grew. The coexistence of active exploits and rising bounty submissions describes a security cycle that is both reactive and preventive.