In the third quarter of 2024, participants in the crypto industry suffered losses amounting to $753 million due to 155 incidents of hacks, exploits, and scams, according to data from CertiK.
? Hack3D Report: Q3 2024 ?
155 hacks, scams, and exploits drained $753,094,610 from Web3 in Q3 2024. This represents a 9.5% increase in value lost compared to Q2, despite fewer incidents.
? Watch the breakdown in the video below.
? View the full report:… pic.twitter.com/WYhp7fGFCx— CertiK (@CertiK) October 2, 2024
The total damage increased by 9.5% compared to the previous period’s $687 million, even though the number of incidents decreased by 27. Since the beginning of the year, cumulative losses have reached $2 billion.
Between July and September, the largest incident was the theft from a presumed creditor of Genesis Trading of 4064 BTC ($238 million) on August 19. In September, the FBI arrested two suspects in the attack.
Alongside the July hack of the Indian exchange WazirX for $235 million, these two cases contributed the most to the quarterly losses.
About $30.9 million was recovered in 10 incidents, bringing the adjusted losses to approximately $722.2 million, with an average of $5.9 million per attack.
Ethereum emerged as the leader in blockchain-related losses, with 86 incidents resulting in over $387 million in damages. Bitcoin ranked second, with a loss of $238 million from a single event.
Phishing attacks yielded the highest returns for perpetrators this quarter, totaling $343 million from 65 incidents.
“To avoid falling victim to such attacks, users should be cautious of messages requesting personal information, double-check website and email addresses, and enable two-factor authentication,” noted CertiK experts.
Private key compromises ranked second, with losses of $324 million from just 10 cases. These two areas accounted for 88.7% of the total losses.
Other attack vectors included code vulnerabilities, reentrancy bugs, and price manipulation.
Earlier, Immunefi experts reported 34 hacking and fraud incidents in the third quarter, with total losses amounting to $413 million.