Cryptocurrency losses reached $67 million in February, increasing annual losses to $200 million – Immunefi

According to Immunefi’s latest Crypto Loss Report, losses in the cryptocurrency industry reached $67 million across 12 incidents in February, accounting for 97.54% of funds stolen due to hacks.

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

Despite significant losses during the month, there was a notable decline compared to January 2024, suggesting that security measures may be improved or vigilance within the cryptocurrency community may be heightened, the report said.

february numbers

Cryptocurrency gaming platform PlayDapp and decentralized exchange FixedFloat accounted for most of the losses, with $32.35 million and $26.1 million, respectively. Duelbits, an online casino with cryptocurrency functionality, lost $4.6 million.

These losses accounted for $63.05 million of February’s total losses of $67.07 million. The remaining losses were spread across multiple platforms, with only RiskOnBlast and Blueberry Protocol losing more than $1 million.

According to the report, Ethereum was the most targeted chain with 12 attacks, while the BNB chain and Bitcoin’s projects each suffered one attack during the month.

All incidents targeted DeFi platforms and services, but CeFi did not suffer a single loss.

$200 million in annual losses

Cryptocurrency losses in February were down 50% compared to the $133 million lost in January due to various incidents.

Total losses for the year are now $200 million, up 15.4% from the same period last year.

Despite the increase in losses year on year, the Peckshield report found that hacking and fraud decreased by 27.78% compared to the same period the previous year. Overall, this means hacks and fraud will be more difficult to carry out and increased vigilance and security.

Immunefi’s January and February reports include a $6.4 million attack on Seneca, a $6.2 million attack on LastPass users, a $6.5 million attack on the MIM stablecoin, and most notably an attack on Ripple co-founder Chris Larsen. Certain attacks have been omitted, such as the $112 million attack against . Personal wallet.

If included, total losses from these hacks would reach $198.1 million in February and $398.1 million for the full year.