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

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

In the meantime, the remaining 2.46% of the funds stolen have been misplaced on account of fraud.

Regardless of the numerous losses in the course of the month, there was a notable lower in comparison with January 2024, hinting at attainable enhancements in safety measures or elevated vigilance throughout the crypto neighborhood, the report mentioned.

February numbers

Crypto gaming platform PlayDapp and decentralized trade FixedFloat accounted for almost all of losses with$32.35 million and $26.1 million, respectively. Duelbits, an internet on line casino with crypto options, misplaced $4.6 million.

Collectively, these losses accounted for $63.05 million of February’s $67.07 million whole losses. The remaining losses have been unfold throughout a number of platforms, with solely RiskOnBlast and Blueberry Protocol shedding greater than $1 million.

Based on the report, Ethereum was probably the most focused chain with 12 assaults, whereas initiatives on BNB Chain and Bitcoin suffered one assault every in the course of the month.

All the incidents focused DeFi platforms and companies, whereas CeFi didn’t expertise a single loss.

Yearly losses at $200 million

Crypto losses in February fell 50% in comparison with the $133 million misplaced in January throughout varied incidents.

Mixed losses for the 12 months now stand at $200 million — 15.4% greater in comparison with the identical interval a 12 months in the past.

Regardless of the rise in losses year-over-year, a Peckshield report revealed that hacks and scams fell 27.78% in comparison with the identical interval within the earlier 12 months. This implies its more durable to execute hacks and fraud general, showcasing growing vigilance and safety.

Immunefi’s January and February experiences omitted sure assaults, together with a $6.4 million assault on Seneca, a $6.2 million attack on LastPass customers, a $6.5 million attack on the MIM stablecoin, and, most notably, a $112 million attack on Ripple co-founder Chris Larsen’s private pockets.

If included, these hacks would convey the full quantity misplaced to $198.1 million February and $398.1 million year-to-date.