{"id":10288,"date":"2024-01-31T11:58:45","date_gmt":"2024-01-31T09:58:45","guid":{"rendered":"https:\/\/forklog.com\/en\/crypto-industry-faces-over-126-million-loss-from-scams-and-hacks-in-january\/"},"modified":"2024-01-31T11:58:45","modified_gmt":"2024-01-31T09:58:45","slug":"crypto-industry-faces-over-126-million-loss-from-scams-and-hacks-in-january","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-industry-faces-over-126-million-loss-from-scams-and-hacks-in-january\/","title":{"rendered":"Crypto Industry Faces Over $126 Million Loss from Scams and Hacks in January"},"content":{"rendered":"<p>Hacker attacks and fraud led to losses of approximately $126.8 million for crypto projects in January, across 19 separate incidents, according to a <a href=\"https:\/\/assets.ctfassets.net\/t3wqy70tc3bv\/4hZTbqxDJqaWGlOtwVVUkb\/0d7b472c0bd15e2338968c3b0dc869d0\/Immunefi_Crypto_Losses_January_2024.pdf\">report<\/a> by Immunefi.<\/p>\n<p>The damage was six times greater than in the first month of 2023 and nearly three times the figure for December.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"612\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Immunefi_Crypto_Losses_January_2024.pdf-Google-Chrome-pdf-1024x612.jpg\" alt=\"Immunefi_Crypto_Losses_January_2024.pdf-Google-Chrome\" class=\"wp-image-225072\"\/><figcaption class=\"wp-element-caption\">Data: Immunefi.<\/figcaption><\/figure>\n<p>Exploits and hacks accounted for 96.8% of the total losses, or $122.8 million, across 14 cases.<\/p>\n<p>The largest incident was an attack on the cross-chain bridge Orbit Bridge, where attackers <a href=\"https:\/\/forklog.com\/en\/news\/hackers-steal-over-80-million-from-orbit-bridge-cross-chain-platform\">extracted assets<\/a> worth approximately $81.5 million. The company behind the protocol, Ozys, suspected a former employee of aiding the hack.<\/p>\n<p>In January, the payment service CoinsPaid lost $7.5 million due to a cybersecurity incident. In July 2023, an attack, allegedly by North Korean hackers from the Lazarus Group, resulted in a $37 million loss.<\/p>\n<p>Other significant hacks for the month included GMEE ($15 million), Gamma Strategies ($6.2 million), and Radiant Capital ($4.5 million).<\/p>\n<p>Immunefi experts noted that 100% of the incidents in January occurred in the DeFi sector. In terms of blockchains, Ethereum and BNB Chain accounted for 58% of cases \u2014 six and five respectively. Other affected networks included Arbitrum, Solana, Polygon, Conflux Network, and Optimism.<\/p>\n<p>As reported in 2023, Immunefi estimated the industry&#8217;s losses from hackers and fraudsters at $1.8 billion. Specialists at PeckShield calculated a different figure \u2014 $2.61 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hacker attacks and fraud led to losses of approximately $126.8 million for crypto projects in January, across 19 separate incidents, according to a report by Immunefi. The damage was six times greater than in the first month of 2023 and nearly three times the figure for December. Data: Immunefi. Exploits and hacks accounted for 96.8% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,44,1252],"class_list":["post-10288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-cybercrime","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"47","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10288"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10287"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}