Crypto Industry Lost $572.7m to Hacks in Q2

The second quarter of 2024 recorded a loss of cryptocurrency totaling $572.7 million due to 72 incidents caused by hacking and fraud. According to the latest report by Web3 platform Immunefi, the figure is up 70.3% from the $336.3 million lost in the first quarter and 112% from the second quarter of 2023, during which $265.5 million was stolen.

Since the beginning of the year, more than $900 million has been lost, which is 24% more than in the same period last year. The report notes that fraudsters have also changed their target. While in the first quarter, DeFi platforms were the main target of attackers, the situation changed in the second quarter. Centralized finance (CeFi) platforms suffered the most attacks in the second quarter, accounting for 70% ($401.4 million) of the losses. At the same time, decentralized financial platforms (DeFi) accounted for 30% ($171.3 million) of the losses in the quarter.

Mitchell Amador, founder and CEO of Immunefi, emphasized the severity of infrastructure compromises, stating, “This quarter highlights how infrastructure compromises can be the most devastating hacks in crypto, as a single compromise can lead to millions in damages.”

Source

https://preview.redd.it/1v2oophu8had1.png?1200&format=png&auto=webp&s=95eaa9d0b562c4955559cc4bc9279d4000f7ac0f