{"id":11289,"date":"2024-03-04T18:12:58","date_gmt":"2024-03-04T16:12:58","guid":{"rendered":"https:\/\/forklog.com\/en\/crypto-project-losses-from-hacks-and-scams-drop-to-67-million-in-february\/"},"modified":"2024-03-04T18:12:58","modified_gmt":"2024-03-04T16:12:58","slug":"crypto-project-losses-from-hacks-and-scams-drop-to-67-million-in-february","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-project-losses-from-hacks-and-scams-drop-to-67-million-in-february\/","title":{"rendered":"Crypto Project Losses from Hacks and Scams Drop to $67 Million in February"},"content":{"rendered":"

In February, the cryptocurrency industry suffered losses of approximately $67 million due to hacker attacks and fraud across 12 different incidents, according to a report<\/a> by Immunefi.<\/p>\n

\"Immunefi_Crypto_Losses_In_Feb_2024.pdf-Google-Chrome\"
Data: Immunefi.<\/figcaption><\/figure>\n

The damage was roughly half of January’s figure of ~$126.8 million.<\/p>\n

In February, nearly all losses were attributed to hacks of the gaming platform PlayDapp ($32.35 million)<\/a> and the decentralized exchange FixedFloat ($26.1 million)<\/a>. The cryptocurrency casino Duelbits lost $4.6 million<\/a> due to a compromised private key.<\/p>\n

Throughout the reporting month, all attack vectors were linked to the DeFi sector, while centralized platforms did not record any significant incidents. A similar situation was observed in January.<\/p>\n

In terms of networks, Ethereum was the clear leader, being involved in 10 of the reported cases. One incident each was related to the Bitcoin and BNB Chain blockchains.<\/p>\n

Notably, following a second attack on PlayDapp three days after the exploit, the perpetrator issued an additional 1.59 billion PLA tokens valued at $253.9 million<\/a> at the time. However, as predicted by Elliptic experts, laundering such a volume proved challenging for the hacker in the current market conditions.<\/p>\n

Immunefi estimated the total damage from hacks and fraud since the beginning of the year at ~$200.5 million.<\/p>\n

In January, the company’s experts did not include in their statistics the theft of ~213 million XRP worth $112.5 million<\/a> from the personal wallet of Ripple co-founder Chris Larsen. Some of the stolen assets were successfully frozen<\/a>.<\/p>\n

At the end of February, Sky Mavis’s Jeffrey Zirlin reported<\/a> a breach of two of his wallets. The attackers withdrew 3248 ETH, amounting to about $9.7 million.<\/p>\n

On February 23, on-chain researcher ZachXBT identified a suspicious outflow of assets worth ~$56.5 million<\/a> from the hot wallets of the Bitforex exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"

In February, the cryptocurrency industry suffered losses of approximately $67 million due to hacker attacks and fraud across 12 different incidents, according to a report by Immunefi. Data: Immunefi. The damage was roughly half of January’s figure of ~$126.8 million. In February, nearly all losses were attributed to hacks of the gaming platform PlayDapp ($32.35 […]<\/p>\n","protected":false},"author":1,"featured_media":11288,"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-11289","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":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11289","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=11289"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11288"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}