Crypto Projects Suffer Devastating Losses of Over $321 Million in Just Three Months! The Shocking Truth Behind the 46 Hacks and 15 Frauds Unveiled by Immunefi Report.
Be warned: The Wild West of Crypto, known as decentralized finance (defi), is a hotbed for malicious attacks. With a 100% loss rate, defi is a prime target for hackers, as revealed by Immunefi CEO Mitchell Amador. Find out why defi’s weak spot of compromised private keys makes it a breeding ground for cybercrime. Don’t miss this eye-opening report on the dangerous world of crypto.
2024 kicked off with a bang as the number of hacker attacks decreased by a whopping 17.5%, a promising sign for online security. However, the notorious Ethereum (ETH) network still fell victim to 33 incidents, making it the prime target for attackers. Not far behind was the BNB Chain (BNB) blockchain, which suffered 14 attacks. Together, these two platforms accounted for a staggering 73% of the lost funds. It’s a constant game of cat and mouse between hackers and the tech world, but let’s hope we can stay one step ahead in the battle for cyber safety.
Experience the adrenaline-pumping thrill of the biggest hacks in recent history! In a daring move, hackers targeted the highly secure Orbit Bridge and the beloved Munchables web3 gaming platform, making off with a staggering $81 million and $63 million, respectively. But they didn’t stop there. PlayDapp and FixedFloat were also hit, losing a whopping $32 million and $26 million in the process. Brace yourself for a wild ride as we delve into the details of these jaw-dropping cyber heists.
Crypto thieves have a notorious weapon in their arsenal: hacking. This cunning technique reigns supreme in the industry, responsible for a whopping 95.6% of all crypto losses. Meanwhile, fraud only accounts for a measly 4.4%. But don’t let your guard down just yet – analysts reveal that fraud cases have decreased by a mere 22.4% in the last year. The battle against crypto theft rages on, with hackers constantly evolving their tactics and fraudsters lurking in the shadows. Stay vigilant, fellow crypto enthusiasts.
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In a shocking turn of events, 2023 saw a staggering $19 million siphoned out of crypto projects by cunning hackers. This amount pales in comparison to the $14 million stolen in the previous year. But what’s even more alarming is that only 22% of the stolen funds, amounting to a measly $73 million, were returned.
Surprisingly, the centralized finance (cefi) sector emerged unscathed in the first three months of 2024. This is a stark contrast to the same period in the previous year, where it lost a hefty $1.8 million. Will this trend continue, or are we in for another round of high-stakes cyber theft? Only time will tell.