The $91M Trick: How a Single Con Job Inflated Crypto’s $163M August Theft Total
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Forget complex code exploits—the biggest crypto heist in August was an old-fashioned con. A single Bitcoiner, fooled by hackers masquerading as legitimate support, lost a staggering $91 million in one transaction.
This incident was the cornerstone of a broader trend that drove total crypto thefts to $163 million for the month, a 15% increase from July.
According to security firm PeckShield, this signals a major strategy shift. Criminals are now concentrating on sophisticated social engineering attacks against high-value targets on centralized platforms, finding it more profitable to hack people than to hack smart contracts.
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