Hackers Steal $1.49B YTD, DeFi Suffers 200 Attacks But CeFi Is Not Secure

In November 2024, hackers accounted for 99.96% of total losses. During the same period, fraud and carpet dragging decreased significantly, contributing to a total loss of only $25,300 in two cases.

According to a recent report shared by Immunefi with CryptoPotato, decentralized finance (DeFi) is the main victim, recording a total loss of $71 million in November. This is the lowest monthly figure of the year and a significant improvement from the $343 million lost during the same period in 2023.

Meanwhile, Central Finance (CeFi) reported no problems during the month. Despite the decline, Imunefi says the sector has re-emerged as a “prime target” for hackers. Nearly 50% of YTD losses – totaling $724 million – were attributable to CeFi breaches. This is in stark contrast to recent years when such attacks have been on the decline. In Q3 2024 alone, CeFi hacks accounted for 72 percent of losses, and one incident on India's Wazir X currency cost $235 million.

Infrastructure weaknesses, especially those involving hot wallets, make these breaches particularly egregious. This year, nine Sefi attacks have caused as many as 200 DeFi breaches. Hackers are refining their tactics, using techniques such as impersonating recruiters or using fake recruitment to penetrate security systems.

The rise of these sophisticated attacks highlights a threat that often goes unnoticed until significant damage is done.

By default, among the blockchain networks targeted, BNB Chain had the biggest impact, with a 46.7% loss in November from 14 separate attacks. Ethereum followed with nine events, which contributed to 30% of the month's losses.

On the other hand, Solana, Polygon, Phantom, Avalanche, Arbitrum, and Aptos each experienced one attack, representing a total of 3.3% of the chain. Year-to-date (YTD), the ecosystem experienced losses totaling $1.49 billion in 209 events, with May and July being the most devastating, with losses of $359 million and They recorded a loss of more than 282 million dollars.