Since the start of 2024, cryptocurrency companies have experienced 149 incidents of hacks and fraud, resulting in losses exceeding $1.19 billion.
The most significant month for damage was July, with losses surpassing $270 million. A major portion of this came from the hack of the Indian exchange, WazirX.
The attacks primarily targeted the Ethereum and BNB Chain networks, which were responsible for 71.4% of the total losses.
Centralized Finance (CeFi) projects have proven to be the most lucrative for hackers, with just six incidents resulting in $636 million in losses in 2024.
On the other hand, the Decentralized Finance (DeFi) segment, while attacked more frequently, saw smaller amounts stolenâ$554 million across 143 attacks in 2024.
In conclusion, storing funds in CeFi platforms might be safer, but it's crucial to choose well-known and secure projects. While DeFi platforms offer more flexibility, they are at a higher risk of frequent attacks.
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