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

Crypto industry losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, in accordance with Immunefi’s newest crypto losses list.

In the interim, the absolute top 2.46% of the funds stolen had been lost attributable to fraud.

No matter the indispensable losses in the course of the month, there used to be a vital lower compared to January 2024, hinting at which that it is seemingly you’ll factor in improvements in security measures or elevated vigilance inside of the crypto community, the list said.

February numbers

Crypto gaming platform PlayDapp and decentralized alternate FixedFloat accounted for practically all of losses with$32.35 million and $26.1 million, respectively. Duelbits, an on-line on line casino with crypto substances, lost $4.6 million.

Together, these losses accounted for $63.05 million of February’s $67.07 million total losses. The absolute top losses had been spread across quite quite a bit of platforms, with ideal RiskOnBlast and Blueberry Protocol shedding higher than $1 million.

In accordance with the list, Ethereum used to be the most centered chain with 12 attacks, whereas tasks on BNB Chain and Bitcoin suffered one assault every in the course of the month.

The total incidents centered DeFi platforms and companies and products, whereas CeFi did not experience a single loss.

Yearly losses at $200 million

Crypto losses in February fell 50% compared to the $133 million lost in January across diverse incidents.

Mixed losses for the yr now stand at $200 million — 15.4% greater compared to the same interval a yr in the past.

No matter the upward thrust in losses yr-over-yr, a Peckshield list revealed that hacks and scams fell 27.78% compared to the same interval in the outdated yr. This implies its more sturdy to develop hacks and fraud overall, showcasing increasing vigilance and security.

Immunefi’s January and February experiences omitted particular attacks, in conjunction with a $6.4 million assault on Seneca, a $6.2 million assault on LastPass customers, a $6.5 million assault on the MIM stablecoin, and, most significantly, a $112 million assault on Ripple co-founder Chris Larsen’s private pockets.

If included, these hacks would bring the overall amount lost to $198.1 million February and $398.1 million yr-to-date.