The recent report from Immunefi shows that in the first quarter of 2024, the crypto industry faced losses of over $321 million due to hacking and fraudulent incidents. Decentralized finance (defi) projects were the main targets, with private key compromises being a significant issue. Hacker attacks decreased by 17.5% compared to the previous year, with the Ethereum network and BNB Chain being the most exploited platforms. The largest hacks targeted Orbit Bridge and Munchables, with losses amounting to over $81 million and almost $63 million, respectively. Hacking remains the leading cause of crypto theft, making up 95.6% of total losses. Fraud cases decreased by 22.4% in the past year. In 2024, stolen funds amounted to $14 million, with only 22% being returned. Interestingly, the centralized finance (cefi) sector did not face any losses in the first quarter of this year, in contrast to the $1.8 million lost during the same period in 2023.