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International Business Times
International Business Times
Business
Marvie Basilan

Crypto Industry Lost Over $920M To Hacks And Frauds So Far In 2024: Immunefi

Crypto blockchain DeFi Ethereum
Crypto security incidents increased significantly in the second quarter of the year, led by attacks into crypto exchanges. (Credit: Bybit/flickr.com)

KEY POINTS

  • DMM Bitcoin and BtcTurk were the hardest-hit in Q2 2024 threat attacks
  • More than $572.6 million was lost to fraudsters and exploiters in the second quarter
  • CeFi platforms losses more than doubled compared to the DeFi space
  • The Ethereum blockchain was the most targeted chain during the quarter

The cryptocurrency industry saw a significant spike in hacks and frauds during the second quarter of the year, driving the sector's total losses linked to security incidents so far in the year to a whopping $920,940,078, a new security report revealed.

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