August Crypto Hacking Losses Plummet to $136M: Tectonic.cro Takes Top Spot

Crypto hacking losses have dropped significantly in August, according to blockchain security firm PeckShield. The total amount lost from 50 incidents was $136.3 million, a decline of 49.5% from July's $270 million.

This marks the fourth-largest crypto hacking loss this year, following incidents involving DRIFT, KelpDAO, and LayerZero (ZRO).

The largest single loss in August came from Tectonic.cro, a decentralized finance protocol built on the Cronos blockchain. Approximately $74 million in assets was drained from the platform.