In 2024, ImmuneFi's analysis showcased a significant decline in crypto losses by 17% compared to the previous year. The current study assesses the crypto damages at $1.49 billion, aligning closely with Cyvers' estimates.
Key Metrics of 2024
Total crypto losses for 2024 reached approximately $1.49 billion, with December being the slowest month in terms of attacks ($3.9 million). The largest single attack was on Orbit Bridge, amounting to over $81.8 million in losses. Overall, the number of attacks decreased in the second half of the year, though new threats persist, especially from North Korean hackers.
Attacks on Centralized and Decentralized Exchanges
In 2024, more than $726 million was lost due to attacks on centralized exchanges, significantly up from $408.9 million in 2023. At the same time, with the rise of Web3, attacks shifted to DeFi and DEX protocols. During the last three months, the losses amounted to $150 million. Overall, 232 attacks were recorded against various protocols and services in 2024.
Most Vulnerable Blockchains and Attack Methods
Ethereum remained the top platform for hacks, while BNB Chain carried 39% of attacks and Arbitrum accounted for 6.8%. Attack methods evolved, including key theft through phishing and social engineering.
Despite the overall decline in the number of attacks, ImmuneFi highlights the increasing sophistication of threats. Projects need more advanced protection and prevention measures to prevent losses and preserve their reputation.
