Crypto & DeFi Suffer $1.2 Billion in Losses From Hacks, Scams & Exploits in First Half of 2024

Crypto & DeFi Suffer $1.2 Billion in Losses in First Half of 2024

The cryptocurrency and decentralized finance (DeFi) sectors have experienced significant losses in the first half of 2024, totaling USD 1.19 billion. This figure includes losses from hacks, scams, and exploits.

According to a report from blockchain security firm CertiK, phishing attacks were the most damaging vector, accounting for $497.7 million in losses across 150 incidents.

The second quarter of 2024 saw the highest losses since the third quarter of 2023, despite a relatively quiet period where the markets consolidated gains from the first quarter.

This information highlights the continued vulnerability of the cryptocurrency ecosystem to malicious activity. Users should remain vigilant and take steps to protect themselves from scams and attacks.