Immunefi Reports: February Sees Crypto Losses Soar to 67 Million Dollars, Totaling 200 Million Dollars for the Year

Crypto News- In February, the crypto industry faced losses totaling $67 million across 12 incidents, primarily due to hacks, which made up 97.54% of the stolen funds, according to the latest report from Immunefi.

However, there’s a silver lining amidst these losses. The report suggests a decrease from January 2024, indicating potential improvements in security measures or heightened vigilance within the crypto community.

Immunefi Reports: February Sees Crypto Losses Soar to 67 Million Dollars, Totaling 200 Million Dollars for the Year

Notable among February’s casualties were crypto gaming platform PlayDapp and decentralized exchange FixedFloat, accounting for $32.35 million and $26.1 million in losses, respectively. Another victim was the online casino Duelbits, which lost $4.6 million.

These major losses totaled $63.05 million, leaving the remainder spread across various platforms. Only RiskOnBlast and Blueberry Protocol reported losses exceeding $1 million.

Ethereum bore the brunt of attacks with 12 incidents, while BNB Chain and Bitcoin each suffered one attack. Interestingly, all attacks targeted DeFi platforms and services, sparing CeFi from any losses.

Despite the hefty February losses, they marked a significant drop from January’s $133 million. However, the cumulative losses for the year now amount to $200 million, a 15.4% increase compared to the same period last year.

It’s worth noting that certain attacks were omitted from Immunefi’s reports for January and February, including notable incidents like the $112 million attack on Ripple co-founder Chris Larsen’s personal wallet, emphasizing the ongoing challenges in securing the crypto space.