The crypto market lost 200 million USD from hacks in the first 2 months of 2024

By the end of February 2024, the crypto market had recorded more than 200 million USD in losses from 32 hacks, mainly occurring in DeFi.

** **Crypto market lost 200 million USD from hacks in the first 2 months of 2024

According to a monthly report from Immunefi, the first 2 months of 2024 saw a 15.4% increase in losses from hacks, scams and rug pulling compared to the same period in 2023 (173 million USD).

In February 2024 alone, an estimated $67 million was hacked and rug pulled from 12 incidents, down by half compared to January.

Damage figures from hacks in January and February 2024. Source: Immunefi

Hacking is still the main form of money theft by bad guys, with 65.4 million USD (accounting for 97.54%) from 10 hacks, the remaining 2 scams stole 1.65 million USD.

Of this 67 million USD, the two game platform projects PlayDapp and the FixFloat exchange alone accounted for 32 million USD and 26 million USD in losses, respectively.

Top 10 biggest hacks in February 2024. Source: Immunefi

In February 2024, DeFi continued to be the main target of hacker attacks, while CeFi did not record any incidents.

Ethereum was the network most targeted by hackers in February, with 12 attacks, accounting for more than 85%. Next is BNB Chain and Bitcoin with 1 incident each network.

Hacks and exploits are a growing concern in the cryptocurrency industry, especially for DeFi applications. According to Immunefi's report, a total of $1.8 billion was stolen due to hacks and scams in 2023, of which 17% may have come from North Korean hacker group Lazarus Group.

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Maybe you are interested:

  • FixedFloat exchange was attacked with a loss of 26.1 million USD
  • PlayDapp (PLA) lost 290 million USD after 2 hacker attacks

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