Hackers Have Stolen $1.49B YTD, DeFi Suffers 200 Assaults However CeFi Is not Protected Both

In November 2024, hacks accounted for an awesome 99.96% of complete losses. Throughout the identical interval, fraud and rug pulls fell considerably, contributing to only $25,300 in complete losses throughout two incidents.

In response to the most recent report by Immunefi shared with CryptoPotato, decentralized finance (DeFi) was the first sufferer, with $71 million in complete losses recorded in November. This was the second-lowest month-to-month determine of the yr and a stark enchancment from the $343 million misplaced throughout the identical interval in 2023.

In the meantime, centralized finance (CeFi) reported no incidents for the month. Regardless of the decline, Immunefi stated that the sector has reemerged as a “prime goal” for hackers. Practically 50% of YTD losses – totaling $724 million – stemmed from CeFi breaches. That is in sharp distinction to latest years when such assaults have declined. In Q3 2024 alone, CeFi hacks accounted for 72% of all losses, with a single incident at India’s WazirX change costing $235 million.

Infrastructure vulnerabilities, particularly these involving scorching wallets, make these breaches significantly catastrophic. Simply 9 CeFi assaults this yr brought about as a lot harm as 200 DeFi breaches. Hackers have resorted to refining their methods, using methods similar to impersonating recruiters or planting faux hires to penetrate safety techniques.

The rise in these refined assaults highlights a rising risk that always stays unnoticed till important harm is finished.

Zooming out, among the many focused blockchain networks, BNB Chain suffered essentially the most important impression, with 14 separate assaults accounting for 46.7% of November’s complete losses. Ethereum adopted with 9 incidents, contributing to 30% of the month’s losses.

Alternatively, Solana, Polygon, Fantom, Avalanche, Arbitrum, and Aptos every skilled one assault, collectively representing 3.3% per chain. Yr-to-date (YTD), the ecosystem has endured losses totaling $1.49 billion throughout 209 incidents, with Could and July being essentially the most devastating months, recording losses exceeding $359 million and $282 million, respectively.