English Translation and Summary:
Crypto Sector Losses Reach $55,138,600 in October Due to Seven Hacks
A recent report from Immunefi—a major security solutions provider and bug bounty platform—reveals that October recorded the second-lowest monthly loss year-to-date (YTD), with the sector losing $55,138,600 to seven hacks. However, these losses represent a 114% increase compared to October 2023, which recorded $25,706,429 in losses, marking a 56.6% monthly decline in losses.
Most of the $55.2 million lost in October stemmed from two major projects: Radiant Capital, a DeFi lending protocol, lost $50 million, while the decentralized autonomous organization Tapioca incurred losses of $4.4 million. Additional incidents impacted protocols and platforms like P719, MorphoLabs, Ramses, HYDT, and Fire, with respective losses of $328,000, $230,000, $93,000, $58,000, and $24,000.
Since the start of the year, hacks and rug pulls have cost the crypto sector a total of $1,400,073,177 over 179 incidents, a 1% decrease compared to the same period in 2023, when losses amounted to $1,414,641,935. Immunefi noted that the highest losses in 2024 were recorded in May ($358 million) and July ($281 million).
All losses in October originated from DeFi protocol breaches, accounting for 100% of the sector’s losses.