Immunefi Report: 112% Surge in Crypto Hacks and Frauds in Q2 2024 ๐จ๐ฐ
Immunefiโs latest report reveals a shocking 112% increase in crypto hacks and frauds for Q2 2024, totaling $572.7 million in losses. ๐ธ๐
Key Highlights:
- **Ethereum Most Targeted:** Ethereum faced 34 incidents (46.6% of total losses), while BNB was second with 18 incidents (24.7%). ๐ก๏ธ
- CeFi Takes the Hit: Centralized finance (CeFi) suffered 70% of the losses, with DeFi platforms accounting for 30%. ๐
- **Major Breaches:** DMM Bitcoin lost $305 million, and BtcTurk lost $55 million. ๐ฆ๐ฅ
Recovery Efforts:
Some recoveries were noted, like ALEX Lab retrieving $3.9 million and the Gala Games hacker returning $21 million in stolen ETH. ๐๐
Fraud vs. Hacks:
Fraud losses fell 81%, but hacks soared 155%. Overall, $920.9 million has been lost YTD across 135 incidents. ๐
Conclusion:
The surge in crypto attacks underscores the need for stronger security. Stay vigilant and use only trusted platforms. ๐๐
