🌋 Crypto Hacks Bring $688M in Losses for Q2 2024

posted  5 Jul 2024
Photo - Crypto Hacks Bring $688M in Losses for Q2 2024
The "Hack3D: The Web3 Security Report," published by CertiK, a security company, reveals that blockchain projects experienced 184 security incidents in the second quarter of 2024, resulting in losses totaling $688 million. This marks a 37% increase from the previous quarter.

Phishing attacks caused the most damage, totaling $433.7 million, followed by private key hacks with losses of $170.1 million.

The largest individual losses were reported by the Japanese exchange DMM Bitcoin ($308 million) and the Turkish exchange BtcTurk ($54 million).

Ethereum had the highest number of security incidents among platforms, with 83 cases highlighted. In total, Ethereum has faced 222 hacks in 2024, with losses amounting to approximately $15.5 million.

Previously, we reported on a similar quarterly analysis by Immunefi, which recorded $572 million in losses.