Crypto Industry Losses to Hackers and Scammers Surpass $1 Billion in 2024

Since the beginning of 2024, cryptocurrency companies have faced 149 incidents of hacks and fraud, resulting in losses exceeding $1.19 billion. This is according to a report by Immunefi, as reported by The Block.

In July, hackers obtained $269.4 million through 14 incidents, making it the second most damaging month after May.

The majority of these losses were due to the hack of the Indian exchange WazirX, amounting to $235 million, with North Korean hackers suspected.

The largest incident in the DeFi segment was the exploitation of a vulnerability in the LI.FI protocol, resulting in a $10 million loss.

In July, the targeted networks were Ethereum and BNB Chain, accounting for 71.4% of the total losses.

Immunefi experts noted that in 2024, hacks of CeFi projects remain the most lucrative for hackers—six incidents brought them $636 million. DeFi is attacked more frequently, but the amounts stolen are smaller—$554 million from 143 attacks.

As reported by Immunefi, from April to June, the crypto industry lost approximately $572.7 million in 72 incidents.