Crypto business losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, in response to Immunefi’s newest crypto losses report.
In the meantime, the remaining 2.46% of the funds stolen have been misplaced as a consequence of fraud.
Regardless of the numerous losses in the course of the month, there was a notable lower in comparison with January 2024, hinting at potential enhancements in safety measures or elevated vigilance inside the crypto neighborhood, the report stated.
February numbers
Crypto gaming platform PlayDapp and decentralized alternate FixedFloat accounted for almost all of losses with$32.35 million and $26.1 million, respectively. Duelbits, an internet on line casino with crypto options, misplaced $4.6 million.
Collectively, these losses accounted for $63.05 million of February’s $67.07 million complete losses. The remaining losses have been unfold throughout a number of platforms, with solely RiskOnBlast and Blueberry Protocol shedding greater than $1 million.
In keeping with the report, Ethereum was probably the most focused chain with 12 assaults, whereas initiatives on BNB Chain and Bitcoin suffered one assault every in the course of 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 yr now stand at $200 million — 15.4% larger in comparison with the identical interval a yr 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 yr. This implies its tougher to execute hacks and fraud general, showcasing growing vigilance and safety.
Immunefi’s January and February experiences 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 deliver the full quantity misplaced to $198.1 million February and $398.1 million year-to-date.
