TechFlow News, July 30 — According to The Block, citing the latest report from web3 bug bounty and security platform Immunefi, following further exploits worth $269.4 million in July, the cryptocurrency industry has lost over $1.19 billion this year due to 149 hacking and fraud incidents. This represents a 16.3% increase compared to the same period in 2023, when $1.02 billion was lost.
July's losses stemmed primarily from 14 incidents—down 15.9% year-on-year but up 90% month-on-month. This marks the second-highest monthly loss in 2024, trailing only May's $358 million. The bulk of the losses came from the $235 million hack of WazirX, which is suspected to be carried out by North Korean hackers.
CeFi vulnerabilities have dominated year-to-date losses, with just six incidents accounting for $636 million (53.4%) of the total. DeFi suffered $554 million (46.6%) across 143 individual incidents. Ethereum and BNB Chain were again the primary targets, collectively accounting for 71.4% of total on-chain losses.
