Hackers Have Stolen $1.49B YTD, DeFi Suffers 200 Attacks But CeFi Isn’t Safe Either

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

In line with 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 mentioned 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 current 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 alternate costing $235 million.

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

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

Zooming out, among the many focused blockchain networks, BNB Chain suffered probably the most important affect, 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.

However, 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 probably the most devastating months, recording losses exceeding $359 million and $282 million, respectively.