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

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

In the meantime, the remaining 2.46% of the funds stolen have been misplaced due to fraud.

Regardless of the numerous losses through the month, there was a notable lower in contrast to January 2024, hinting at attainable enhancements in safety measures or elevated vigilance inside the crypto group, the report mentioned.

February numbers

Crypto gaming platform PlayDapp and decentralized change 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 complete losses. The remaining losses have been unfold throughout a number of platforms, with solely RiskOnBlast and Blueberry Protocol dropping greater than $1 million.

In accordance to the report, Ethereum was probably the most focused chain with 12 assaults, whereas initiatives on BNB Chain and Bitcoin suffered one assault every through the month.

The entire 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 contrast to the $133 million misplaced in January throughout varied incidents.

Mixed losses for the 12 months now stand at $200 million — 15.4% larger in contrast to the identical interval a 12 months in the past.

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

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

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