Crypto industry loses approximately $110 million to hacker attacks in July

Odaily News: According to the latest data, the crypto industry lost approximately $110 million to hacker attacks in July. Researchers who identified and confirmed vulnerabilities were paid approximately $2.32 million, with the number of confirmed and paid vulnerability reports increasing by 18% month-over-month. A review of 1,178 first-line audit reports showed a median of 0 critical or high-severity vulnerabilities; 58 audit competitions found an average of 6.2 critical vulnerabilities each, higher than the 1.5 found in first-line audits. The report states that the average cost of discovering a critical vulnerability through audit competitions is approximately $6,548, significantly lower than the approximately $66,000 cost of private first-line audits and the approximately $24.5 million loss caused when hackers exploit vulnerabilities first.