Crypto business losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, in line with Immunefi’s newest crypto losses report.
In the meantime, the remaining 2.46% of the funds stolen had been misplaced as a consequence of fraud.
Regardless of the numerous losses through the month, there was a notable lower in comparison with January 2024, hinting at doable enhancements in safety measures or elevated vigilance inside the crypto group, the report stated.
February numbers
Crypto gaming platform PlayDapp and decentralized change FixedFloat accounted for almost all of losses with$32.35 million and $26.1 million, respectively. Duelbits, a web based on line casino with crypto options, misplaced $4.6 million.
Collectively, these losses accounted for $63.05 million of February’s $67.07 million whole losses. The remaining losses had been unfold throughout a number of platforms, with solely RiskOnBlast and Blueberry Protocol dropping greater than $1 million.
In response to the report, Ethereum was probably the most focused chain with 12 assaults, whereas tasks on BNB Chain and Bitcoin suffered one assault every through the month.
All the incidents focused DeFi platforms and companies, whereas CeFi didn’t expertise a single loss.
Yearly losses at $200 million
Crypto losses in February fell 50% in comparison with the $133 million misplaced in January throughout varied incidents.
Mixed losses for the 12 months now stand at $200 million — 15.4% increased in comparison with the identical interval a 12 months in the past.
Regardless of the rise in losses year-over-year, a Peckshield report revealed that hacks and scams fell 27.78% in comparison with the identical interval within the earlier 12 months. This implies its more durable to execute hacks and fraud general, showcasing rising vigilance and safety.
Immunefi’s January and February reviews omitted sure assaults, together with a $6.4 million assault on Seneca, a $6.2 million assault on LastPass customers, a $6.5 million assault on the MIM stablecoin, and, most notably, a $112 million assault on Ripple co-founder Chris Larsen’s private pockets.
If included, these hacks would convey the full quantity misplaced to $198.1 million February and $398.1 million year-to-date.
