In line with Immunefi's newest crypto loss report, losses for the crypto trade in February amounted to $67 million throughout 12 incidents, with 97.54% of stolen funds coming from hacking.

In the meantime, the remaining 2.46% of stolen funds have been misplaced to fraud.

Regardless of the numerous losses for the month, there was a notable decline in comparison with January 2024, suggesting doable enhancements in safety measures and heightened vigilance throughout the cryptocurrency neighborhood, the report mentioned. ing.

February numbers

Cryptocurrency gaming platform PlayDapp and decentralized alternate FixedFloat accounted for many of the losses at $32.35 million and $26.1 million, respectively. His Duelbits, a web-based on line casino with cryptocurrency capabilities, misplaced him $4.6 million.

Collectively, these losses accounted for $63.05 million of February's whole losses of $67.07 million. The remaining losses have been unfold throughout a number of platforms, with solely RiskOnBlast and Blueberry Protocol dropping greater than $1 million.

In line with the report, Ethereum was essentially the most focused chain with 12 assaults, whereas the BNB Chain and Bitcoin tasks every suffered one assault in the identical month.

All of those incidents focused DeFi platforms and companies, however CeFi didn’t undergo a single loss.

Annual losses quantity to $200 million

Cryptocurrency losses in February decreased by 50% in comparison with the $133 million misplaced in January resulting from numerous incidents.

Whole losses for the yr now stand at $200 million, a rise of 15.4% in comparison with the identical interval final yr.

Regardless of the year-on-year enhance in losses, hacking and fraud decreased by 27.78% in comparison with the identical interval final yr, in response to the PecShield report. Because of this hacking and fraud are harder to carry out general, and vigilance and safety are elevated.

Immunefi's January and February reviews embrace 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, the co-founding of Ripple. Sure assaults are omitted, such because the $112 million assault on Chris Larsen. private pockets.

Together with these hacks, whole losses would attain $198.1 million as of February and $398.1 million because the starting of the yr.