Crypto losses hit $67 million in February, pushing yearly losses to $200 million – Immunefi

Crypto manufacture losses amounted to $67 cardinal successful February implicit 12 incidents, with hacks accounting for 97.54% of funds stolen, according to Immunefi’s latest crypto losses report.

Meanwhile, the remaining 2.46% of the funds stolen were mislaid owed to fraud.

Despite the important losses during the month, determination was a notable alteration compared to January 2024, hinting astatine imaginable improvements successful information measures oregon accrued vigilance wrong the crypto community, the study said.

February numbers

Crypto gaming level PlayDapp and decentralized speech FixedFloat accounted for the bulk of losses with$32.35 cardinal and $26.1 million, respectively. Duelbits, an online casino with crypto features, mislaid $4.6 million.

Together, those losses accounted for $63.05 cardinal of February’s $67.07 cardinal full losses. The remaining losses were dispersed crossed respective platforms, with lone RiskOnBlast and Blueberry Protocol losing much than $1 million.

According to the report, Ethereum was the astir targeted concatenation with 12 attacks, portion projects connected BNB Chain and Bitcoin suffered 1 onslaught each during the month.

All of the incidents targeted DeFi platforms and services, portion CeFi did not acquisition a azygous loss.

Yearly losses astatine $200 million

Crypto losses successful February fell 50% compared to the $133 cardinal mislaid successful January crossed assorted incidents.

Combined losses for the twelvemonth present basal astatine $200 cardinal — 15.4% higher compared to the aforesaid play a twelvemonth ago.

Despite the emergence successful losses year-over-year, a Peckshield study revealed that hacks and scams fell 27.78% compared to the aforesaid play successful the erstwhile year. This means its harder to execute hacks and fraud overall, showcasing expanding vigilance and security.

Immunefi’s January and February reports omitted definite attacks, including a $6.4 cardinal onslaught connected Seneca, a $6.2 cardinal onslaught on LastPass users, a $6.5 cardinal attack connected the MIM stablecoin, and, astir notably, a $112 cardinal attack connected Ripple co-founder Chris Larsen’s idiosyncratic wallet.

If included, these hacks would bring the full magnitude mislaid to $198.1 cardinal February and $398.1 cardinal year-to-date.

The station Crypto losses deed $67 cardinal successful February, pushing yearly losses to $200 cardinal – Immunefi appeared archetypal connected CryptoSlate.