Crypto Hacks, Rug Pulls Led to $473M Worth of Losses in 2024

Over $473 million worth of cryptocurrency has been lost to hacks and rug pulls across 108 incidents in 2024, according to a report by security service provider Immunefi. In May alone, $52 million was stolen, with the majority of that being siphoned out of Gala Games and SonneFinance, which were hacked for $21 million and $20 million, respectively. The total marks a 12% decrease compared to May 2023. The decentralized finance (DeFi) market remains the key attack vector for hackers. Ethereum experienced the highest volume of hacks, with 9 incidents representing 43% of the total losses. Last year, over $2 billion was lost to hacks and exploits.

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