In Q3 2024, the crypto industry suffered $753 million in losses as a result of 155 hacks, exploits, and frauds.

The amount of damage increased by 9.5% compared to the previous period — $687 million, while the number of episodes decreased by 27. Since the beginning of the year, the cumulative loss figure has reached $2 billion.

In July-September, the largest incident was the theft of 4,064 BTC ($238 million) from a presumed creditor of Genesis Trading on August 19. In September, the FBI arrested two suspects in the attack.

Along with the hack of the Indian exchange WazirX in July for $235 million, the two aforementioned cases provided the largest contribution to the quarterly losses.

It was possible to recover $30.9 million in 10 incidents. Therefore, the adjusted damage is ~$722.2 million with an average of $5.9 million per attack.

In terms of blockchains, Ethereum turned out to be the anti-leader. The network experienced 86 episodes with total losses of more than $387 million. Bitcoin came in second place with a loss of coins worth the same $238 million as a result of a single event.

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