TechFlow News, according to The Block, Web3 bug bounty platform Immunefi reported that the cryptocurrency industry lost as much as $572.7 million in Q2 2024 due to hacks and scams, a 70.3% increase from Q1. DMM Bitcoin and BtcTurk suffered losses of $305 million and $55 million respectively, becoming the primary victims. Centralized finance (CeFi) emerged as the main target in Q2, accounting for 70% of total losses. Of all losses, hacking incidents made up 98.5% ($564.2 million), primarily targeting the Ethereum and BNB Chain networks with 34 and 18 attacks respectively. Immunefi founder Mitchell Amador emphasized that strengthening infrastructure security is critical to protecting the entire ecosystem.
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