Crypto Hacks Hit $110 Million in July While Bug Discoveries Rise

The crypto industry lost about $110 million to hacks in July, highlighting persistent security risks across digital assets. However, stronger bug bounty activity helped researchers identify hundreds of threats before attackers could exploit them.

Immunefi reported that confirmed and paid bug bounty reports rose 18% during July. Researchers earned $2.32 million for uncovering verified vulnerabilities during the month.

Bug Bounties Expose More Critical Flaws

Additionally, Immunefi reviewed 1,178 top-tier audits and found a median of zero critical or high-severity bugs. However, its 58 audit competitions uncovered significantly more serious vulnerabilities.

Those competitions found an average of 6.2 serious bugs per engagement. By comparison, private top-tier audits identified 1.5 serious bugs per engagement.

Moreover, Immunefi found major differences in vulnerabilit…

Read The Full Article Crypto Hacks Hit $110 Million in July While Bug Discoveries Rise On Coin Edition.