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 accordance with the newest 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 12 months 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 stated that the sector has reemerged as a “prime goal” for hackers. Almost 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 trade costing $235 million.

Infrastructure vulnerabilities, particularly these involving sizzling wallets, make these breaches significantly catastrophic. Simply 9 CeFi assaults this 12 months precipitated as a lot harm as 200 DeFi breaches. Hackers have resorted to refining their methods, using strategies akin to impersonating recruiters or planting pretend hires to penetrate safety programs.

The rise in these subtle assaults highlights a rising menace that always stays unnoticed till vital harm is finished.

Zooming out, among the many focused blockchain networks, BNB Chain suffered essentially the most vital influence, 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. 12 months-to-date (YTD), the ecosystem has endured losses totaling $1.49 billion throughout 209 incidents, with Could and July being essentially the most devastating months, recording losses exceeding $359 million and $282 million, respectively.