In the year Hacked funds in 2024 increased by 15.4% over the same period in 2023 – Immunefi
More than $200 million worth of cryptocurrency has been hacked and wiped out in 32 separate incidents year-to-date (YTD) in 2024, according to a Feb. 29 research report by blockchain security firm Immunefi.
The loss of over $200 million YTD represents a 15.4% increase compared to January and February 2023, when $173 million in digital assets were stolen.
In February, more than $67 million worth of crypto was stolen in 12 separate hacking and fraud incidents. This represents a nearly 50% decrease from January, when $133 million in stolen crypto was recorded.
This year, most of the stolen funds, or $32.3 million, were lost in a cyber attack on PlayDip, a crypto gaming platform. Decentralized crypto exchange FixedFloat suffered the second largest theft of $26.1 million. Decentralized finance (DeFi) was a major target for exploits in February, while centralized financial protocols did not experience a single major attack during the month.
Of the $65 million (97.54%) of stolen funds in February, hacks accounted for 10 single incidents, while two fraud cases accounted for $1.65 million or 2.46 percent of the stolen value during the month.
Ethereum was the most targeted network for hackers in February, followed by Binance's BNB Chain and the Bitcoin network. Ethereum has suffered 12 individual attacks this year, accounting for more than 85% of its total value lost. The Bitcoin network and the BNB chain each experienced an incident.
Hackers and exploits are a growing concern in the crypto industry, especially for DeFi applications. In the year According to a December 28 report by Immunefi, $1.8 billion will be lost to crypto hackers and fraudsters in 2023, of which 17% can be attributed to the North Korean Lazar group.
Peer-to-peer trading platform Myxin Network suffered the biggest attack of 2023, causing losses of more than $200 million, followed by a $197 million hack of lending platform Euler Financial. The $126 million hack on the chain bridge protocol Multichain took third place.
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