As per findings by Peckshield, a Web3 security company, cryptocurrency-related crimes amounted to $85.5 million in November, contributing to an annual loss of $2.43 billion.<\/p>\n
The previous month witnessed more than 30 hacking incidents; however, the overall losses were slightly lower compared to the $102.42 million recorded in October.<\/p>\n
DeFi (Decentralized Finance) platforms continued to attract the most attention from hackers during November, with breaches at Thala, DEXX, Gifto, Polter Finance, and Delta Prime leading to a significant portion of the total losses for the month.<\/p>\n
To illustrate, Thala and DEXX suffered losses of $25.5 million and $21 million, making up over half of the total losses during the period.<\/p>\n
Despite this, Thala was able to recover nearly the entire stolen sum of $25.2 million, highlighting the ongoing attraction of DeFi platforms for malicious actors in 2024.<\/p>\n
In its mid-year 2024 report on cryptocurrency crimes, Peckshield disclosed losses of $1.56 billion, which was almost three times the figure reported in the corresponding period of 2023 ($480 million).<\/p>\n
During this timeframe, approximately 60% of all hacks targeted DeFi protocols, with major cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), and Ripple (XRP) being among the most frequently stolen tokens.<\/p>\n
An excerpt from the H1 2024 report emphasized,\u00a0<\/p>\n
\n\u201cThis marks a notable 293% surge from the same period in 2023 when losses amounted to $480 million. DeFi protocols remained the primary targets, responsible for 59% of the total stolen value.\u201d<\/p>\n<\/blockquote>\n
As of now, losses in the sector have reached $889.6 million in the latter half of 2024. Despite a decrease in monthly crypto crime figures following the WaziriX incident in August, DeFi protocols continue to be the primary focal point in the second half of 2024.<\/p>\n
The majority of the breaches occurred through phishing schemes involving fake links to DeFi platforms, which compromised both the platforms themselves and the users attempting to link their wallets.<\/p>\n
This underscores the importance of exercising caution when interacting with shared links and connecting your wallets to preferred DEX (Decentralized Exchange) or DeFi platforms.<\/p>\n","protected":false},"excerpt":{"rendered":"
As per findings by Peckshield, a Web3 security company, cryptocurrency-related crimes amounted to $85.5 million in November, contributing to an annual loss of $2.43 billion. The previous month witnessed more than 30 hacking incidents; however, the overall losses were slightly lower compared to the $102.42 million recorded in October. Continued Focus on DeFi Platforms DeFi<\/p>\n","protected":false},"author":1,"featured_media":33194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-33193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/33193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/comments?post=33193"}],"version-history":[{"count":2,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/33193\/revisions"}],"predecessor-version":[{"id":33198,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/33193\/revisions\/33198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/media\/33194"}],"wp:attachment":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/media?parent=33193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/categories?post=33193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/tags?post=33193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}