📰 Table Of Contents
Ethereum Leads Blockchain Hacks in 2024
Ethereum has emerged as the most targeted blockchain in 2024, with 33 reported hacking incidents. Other impacted chains include BNB Chain, Arbitrum, Solana, and Bitcoin.
DeFi Sector Vulnerability
The Decentralized Finance (DeFi) sector has been particularly susceptible to attacks, with all reported incidents this year occurring within this sector.
Top 10 Losses in 2024
- Orbit Bridge: $81,680,000
- Munchables: $62,800,000
- PlayDapp: $32,350,000
- FixedFloat: $26,100,000
- GMEE: $15,000,000
- WOOFi: $8,750,000
- Coinspaid: $7,500,000
- Abracadabra Money: $6,500,000
- Seneca: $6,500,000
- Gamma Strategies: $6,200,000
Crypto Losses and Scams
Reported losses from scams and hacks in 2024 exceed $437 million. Fraudulent activities, including rug pulls, have contributed to these losses.
March Theft Rates Decrease
A recent CertiK report shows a 48% decrease in crypto theft during March compared to February. DeFi projects saw a significant decline in malicious activities.
Notable March Thefts
MakerDAO-based smart contract and Prisma Finance were among the projects affected by thefts in March, with losses amounting to millions.
Security Breaches Beyond DeFi
Security breaches extended beyond DeFi protocols, with platforms like NFPrompt and WooFi reporting significant losses due to cyber intrusions.
Online Safety Practices
Smart Betting Guide recommends secure practices for crypto users, including keeping passwords and seed phrases offline, using hardware wallets, and implementing critical security measures like Two-Factor Authentication (2FA).
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
