The cryptocurrency industry is projected to continue facing challenges with hacks and scams in 2024, as reported by blockchain security firm Immunefi. Despite a decrease in monthly exploit losses, over $1.4 billion has been lost to 179 incidents this year. October saw losses of $55.1 million, a significant drop from September's $126.9 million. However, vulnerabilities persist, with seven exploits contributing to October's losses, notably impacting DeFi protocols like Radiant Capital and Tapioca DAO. Security measures are improving, with projects adopting audits, better smart contract design, and bug bounty programs. While BNB Chain was the most targeted network, Ethereum and Arbitrum also faced attacks. Although security efforts are showing progress, high-value assets and DeFi ecosystems remain attractive to hackers. The industry is gradually enhancing security through audits and decentralized insurance, but incidents like those in October highlight ongoing vulnerabilities, particularly in the DeFi sector. Read more AI-generated news on: https://app.chaingpt.org/news