According to Web3 bug bounty platform Immunefi, the crypto industry lost $572.70 million to hacking and fraud in the second quarter. DMM Bitcoin and BtcTurk were the two largest vulnerabilities, causing $305 million and $55 million in losses, respectively. Losses for the quarter increased by 70.3% over Quarter 1's $336.30 million worth of vulnerabilities and by 112% over the second quarter of 2023.
In the second quarter, hacking was the leading cause of losses, accounting for 98.5% of the total losses in 53 incidents, while losses from fraud, scams, and rug pulls accounted for only 1.5%, involving 19 specific incidents.
Like Quarter 1, Ethereum and BNB Chain were again the most attacked networks. Ethereum suffered the most individual attacks with 34 incidents, accounting for 46.6% of all chain losses, followed by BNB Chain with 18 incidents, accounting for 24.7%.
Immunefi: Cryptocurrency losses due to hacks and scams rose to $573 million in Q2
2024-06-27 13:22:37
Per web3 vulnerability gold platform immunefi data crypto industrydesk3cryptocurrencydesktopCrypto News
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