Crypto losses because of hacks have decreased a lot this year and they have continued decreasing in November too. Immunefi, a crypto platform, reported $71 million loss in crypto in November 2024, which is a 4% decline from October of this year and 79% decline from November 2023. November was recorded as the second lowest month in crypto in 2024. Majority of the losses were from two firms called Thala Labs and DEXX. The total loss of these two firms was $46 million.
In November, most of the losses were from decentralized platforms and no case was reported from a centralized platform. The total reported cases from decentralized platforms were 26. The major losses were due to hacks and rug pulls loss was just $25,300.
The BNB chain got targeted the most this month with 14 attacks. 47% of the industry losses were because of those attacks and Ethereum reported second highest attacks (9). The total crypto attacks reported in 2024 were 209, with total losses of about $1.49 billion. May and July were the months with the biggest losses of $359 million and $282 million respectively.
In November, most of the losses were from decentralized platforms and no case was reported from a centralized platform. The total reported cases from decentralized platforms were 26. The major losses were due to hacks and rug pulls loss was just $25,300.
The BNB chain got targeted the most this month with 14 attacks. 47% of the industry losses were because of those attacks and Ethereum reported second highest attacks (9). The total crypto attacks reported in 2024 were 209, with total losses of about $1.49 billion. May and July were the months with the biggest losses of $359 million and $282 million respectively.
On the other hand, CertiK reported a striking trend. In 2024, code vulnerabilities caused 30% of crypto incidents. Even more interesting? 85% of access control breaches ended with stolen funds successfully returned. It’s a reminder, the systems we build matter, and so does how we respond when they’re tested.
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