Ethereum

2024

Security

Billion

<ul class="wp-block-list news-points"> 
 <li>Crypto losses in 2024 hit $1.2B, up 15.5%, despite August’s 95% drop in thefts.</li> 
 <li>Ethereum and BNB Chain targeted, with BNB Chain suffering $1.64B in losses since 2017.</li> 
 <li>Immunefi aids security, awarding $100M+ in bounties and launching Attackathon for Ethereum.</li> 
</ul> 
Seems the crypto market losses in 2024 are far from over. Over $1.2 billion has been stolen through various hacks and scams, according to the latest report by web3 security platform <a href="https://assets.ctfassets.net/t3wqy70tc3bv/fYG4wHZa0LfrEFcjqpqm1/c56684e1d8fc95247fd5df6560fe3486/Immunefi_Crypto_Losses_In_August_2024.pdf" target="_blank" rel="nofollow">Immunefi</a>. Even though losses dropped in August, the average for the year is still alarming, showing a 15.5% increase compared to the <a href="https://immunefi.com/research/" target="_blank" rel="nofollow">same period in 2023.</a> 
August did see a 95% decrease in month-over-month losses, with only $15.1 million lost compared to $274.7 million in July. This reduction, however, doesn’t make up for the year’s total losses, which have now surpassed $1.2 billion. 
Among the August incidents, the biggest involved an outflow of $12 million <a href="https://coinedition.com/ronin-bridge-exploit-white-hat-hack-or-malicious-attack/">to MEV bots</a> from the Ronin Network bridge due to an upgrade bug. This outflow, however, was later returned by white hat hackers in exchange for a $500,000 bounty. 
This incident stands out because Ronin’s bridge with Ethereum was previously attacked in March 2022, res…
The post <a href="https://coinedition.com/crypto-security-report-august-losses-down-but-2024-total-surpasses-1-2-billion/">Crypto Security Report: August Losses Down, but 2024 Total Surpasses $1.2 Billion</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Crypto Security Report: August Losses Down, but 2024 Total Surpasses $1.2 Billion

Coin Edition

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