Crypto losses hit $67 million in February, pushing yearly losses to $200 million – Immunefi In February, the total amount of losses from crypto reached $67 million, which added to the overall yearly losses of $200 million, according to Immunefi.
In February, the crypto industry faced losses totaling $2112 million across 2198.1 incidents, mostly due to hacks which accounted for 97.54% of the stolen funds. Fraud caused the remaining 2.46% of the losses. Despite these substantial losses, there was a decrease compared to January 2024, suggesting potential improvements in security measures or increased awareness within the crypto community. This information was reported in Immunefi’s latest report on crypto losses in February. PlayDapp, a crypto gaming platform, and FixedFloat, a decentralized exchange, were responsible for the largest portion of losses, totaling $32.35 million and $26.1 million, respectively. In February, Duelbits, an internet gambling site offering cryptocurrency options, experienced a $4.6 million loss. Combined with other losses, Duelbits’ contribution to the total losses for the month amounted to $63.05 million out of $198.13 million. Losses of more than $1 million were only recorded on RiskOnBlast and Blueberry Protocol, with the rest of the losses distributed among various platforms. The report revealed that Ethereum was the most frequent target of attacks, with 12 incidents, while BNB Chain and Bitcoin both experienced one attack each in the same period. The attacks exclusively focused on DeFi platforms and services, with no losses reported in the CeFi sector. Total losses for the year were estimated at $200 million. Losses from crypto incidents in February were 50% lower compared to January, when $133 million was lost. Total losses for the year have reached $200 million, which is 15.4% higher than the same period last year. However, reports from Immunefi for January and February did not include certain attacks, such as a $6.4 million attack on Seneca, a $6.2 million attack on LastPass users, a $6.5 million attack on the MIM stablecoin, and a $112 million attack on Ripple co-founder Chris Larsen’s personal wallet. If these attacks were accounted for, the total losses would be $198.1 million for February and $398.1 million year-to-date. Categories: Bitcoin, Ethereum, Analysis, Criminal Activities, Cryptocurrency, Security Breaches, Fraudulent Schemes. Recent updates on Bitcoin tales