Crypto Losses in 2024: $473 Million to Hacks and Rug Pulls

In 2024, over $473 million worth of cryptocurrency has been lost to hacks and rug pulls, according to a report by Immunefi. Hacks have decreased by 12% in May 2024 compared to the same period last year, and DeFi remains the primary target. The Ethereum blockchain has faced the highest number of hacks, accounting for 43% of total losses. Notable hacks include the Gala Games and SonneFinance incidents, which resulted in over $40 million stolen. These incidents highlight the ongoing security challenges faced by the crypto industry and the importance of robust security measures.