{"id":18234,"date":"2024-10-31T18:44:44","date_gmt":"2024-10-31T16:44:44","guid":{"rendered":"https:\/\/forklog.com\/en\/cryptocurrency-losses-reach-55-1-million-in-october-reports-immunefi\/"},"modified":"2024-10-31T18:44:44","modified_gmt":"2024-10-31T16:44:44","slug":"cryptocurrency-losses-reach-55-1-million-in-october-reports-immunefi","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cryptocurrency-losses-reach-55-1-million-in-october-reports-immunefi\/","title":{"rendered":"Cryptocurrency Losses Reach $55.1 Million in October, Reports Immunefi"},"content":{"rendered":"<p>In October, cryptocurrency companies suffered losses amounting to $55.1 million due to hacks, a decrease of 56.6% compared to the previous month\u2019s $126.9 million, according to a report by <a href=\"https:\/\/immunefi.com\/research\/\">Immunefi<\/a>.<\/p>\n<p>Throughout the month, seven incidents occurred. The majority of losses were attributed to two projects: a hack of the DeFi protocol Radiant Capital amounting to $50 million and an exploit of Tapioca DAO for $4.4 million.<\/p>\n<p>Other affected entities included P719, Morpho Labs, Ramses Exchange, HYDT, and Fire. Analysts did not record any cybercrimes in the <span data-descr=\"centralized finance\" class=\"old_tooltip\">CeFi<\/span> segment for October.<\/p>\n<p>Hackers most frequently targeted the BNB Chain network, accounting for 50% of the attacks last month. The remaining exploits occurred in Ethereum and Arbitrum, each with 25%.<\/p>\n<p>According to analysts, the cumulative market losses since the beginning of the year have exceeded $1.4 billion from 179 incidents.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXekzQi7K3yZHiYHLnZSGq7SkEhdkclsUjd4MOj-2INfxXMy3Lu2jMgvPR-Kf7uDB4-PYHZ4F5mN2dIkRbLFzHQHOrg9asUhtrZkjyIJuRggX_9LpoEndaniSPnp27iZ0QZH5jWmILVgGuR4_FXCDEHTuBr4?key=xUYHgGD4Slif087m3eKZ1KPg\" alt=\"Immunefi: \u0437\u0430 \u043e\u043a\u0442\u044f\u0431\u0440\u044c \u043a\u0440\u0438\u043f\u0442\u043e\u0438\u043d\u0434\u0443\u0441\u0442\u0440\u0438\u044f \u043f\u043e\u0442\u0435\u0440\u044f\u043b\u0430 $55,1 \u043c\u043b\u043d\"\/><figcaption class=\"wp-element-caption\">Monthly cryptocurrency losses since the beginning of the year. Data: Immunefi.<\/figcaption><\/figure>\n<p>In comments to <a href=\"https:\/\/www.theblock.co\/post\/323703\/crypto-losses-hacks-scams-surpass-1-4-billion-usd-2024\">The Block<\/a>, Immunefi representatives linked the slowdown in monthly losses for crypto companies to improved internal security measures, including audits, smart contract enhancements, bounty programs, and hiring experienced professionals. <\/p>\n<p>Earlier estimates by analysts indicated that the crypto industry suffered $413 million in losses from hackers and fraudsters in the third quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In October, cryptocurrency companies suffered losses amounting to $55.1 million due to hacks, a decrease of 56.6% compared to the previous month\u2019s $126.9 million, according to a report by Immunefi. Throughout the month, seven incidents occurred. The majority of losses were attributed to two projects: a hack of the DeFi protocol Radiant Capital amounting to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18233,"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":[44,1644],"class_list":["post-18234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-immunefi"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18234","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=18234"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18233"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}