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Crypto hack in July: Losses increase by $ 142 million-Coindcx and GMX among the main victims with $ 44 and $ 42 million.
The cryptocurrency hacks in July 2023: An increase in losses by $ 142 million in July 2023 experienced the cryptocurrency industry a quantitative increase to hacks, which caused the losses to increase by $ 27% to a total of $ 142 million. The serious incidents that affected both Coindcx and GMX were particularly noteworthy. Coindcx, a well-known crypto trading platform, ...
Crypto hack in July: Losses increase by $ 142 million-Coindcx and GMX among the main victims with $ 44 and $ 42 million.
The cryptocurrency hacks in July 2023: An increase in losses by $ 27% to $ 142 million
In July 2023, the cryptocurrency industry experienced a quantitative increase to hacks, which rose the losses by $ 27% to a total of $ 142 million. The serious incidents that concerned both Coindcx and GMX were particularly remarkable.
Coindcx, a well-known crypto trading platform, reported an insider hack that led to a loss of $ 44 million. This incident raises questions about security and internal control mechanisms of crypto exchanges. Insider fraud is a growing problem in the industry and is a significant threat to the trust of users, since it is often difficult to recognize and prevent such activities.
The GMX platform, which lost $ 42 million through an exploit, was also affected. Such attacks show that hackers can specifically take advantage of weaknesses in the smart contracts or in the safety infrastructures of crypto services. The patterns of these hacks illustrate the need for more robust safety measures and regular audits to minimize future losses.The increase in losses illustrates the continuing challenges in the cryptocurrency landscape and the urgent need for developers and platform operators to strengthen security solutions. Users of cryptocurrencies should be aware of the risks and take suitable measures to protect their systems.
Overall, July 2023 not only illustrates the dangers of hacks and was in the crypto area, but also underlines how important it is to strengthen confidence in technology through safe and transparent practices.