Cryptocurrency scams generated losses of $573 million dollars

Losses from cryptocurrency scams and hacks during the second quarter of 2024 were quantified at $573 million

The crimes of scams, fraud and cryptocurrency hacks have generated losses in the order of $573 million dollars in the first quarter of 2024.

The data published by the Web3 Immunefi security platform indicates that the increase in these crimes is considerable compared to 2023, due to more than 70 incidents with computer attacks.

“These losses represent an increase of 70.3 % compared to the 336.3 million dollars that were recorded in the first quarter, and 112 % compared to the second quarter of 2023, when hackers and scammers stole 265.5 million dollars,” indicates the platform.

They add that during 2024 thefts amount to more than 900 million dollars through computer attacks and fraud, which represents 24 % more than in the same period in 2023.

“With nearly $100 billion in total value locked in Web3 protocols, according to DeFiLlama data, decentralized finance remains the top target for hackers,” accounting for 100 % of the exploits identified by Immunefi in the first quarter of the year.

For the April-June period, the main target was centralized finance, representing 70 % ($401.4 million) of the quarter’s losses, compared to 30 % ($171.3 million) for DeFi.

Most of the losses came from “two exploits that totaled $360 million, 62.8% of the total. A $305 million attack on Japanese cryptocurrency exchange DMM Bitcoin represented the largest attack, while another $55 million was stolen from Turkish exchange BtcTurk on June 23.

The networks with the most attacks were Ethereum and BNB Chain; while Arbitrum, Blast, Optimism, Solana, Polygon, Fantom, Linea, Mantle and TON made up the rest of the incidents.


Source: cripto247

(Reference image source: Unsplash+, in collaboration with Getty Images)

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