Saturday, August 2, 2025
No Result
View All Result
Coin Digest Daily
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
No Result
View All Result
Coin Digest Daily
No Result
View All Result

A Resurgence in Crypto Theft: Losses to Hackers and Fraudsters Soar 112% in Q2

28 June 2024
in Crypto Updates
Reading Time: 2 mins read
0 0
A A
0
Home Crypto Updates
Share on FacebookShare on Twitter


Cryptocurrency theft escalated dramatically within the second
quarter, with losses from hacks and scams hovering by 112% to a staggering $572
million, the newest knowledge revealed. This sharp enhance adopted a interval of
decline, highlighting a troubling resurgence in malicious actions concentrating on
the crypto neighborhood, particularly centralized exchanges.

Escalating Crypto Losses

Immunefi, an on-chain crowdsourced safety platform,
reported that the whole losses amounted to $572,688,861, marking a major
rise from the $265,481,519 misplaced within the second quarter of final 12 months. Centralized
exchanges have been the principle victims, reversing the earlier development of declining
losses.

Nearly all of the losses resulted from two main
incidents. DMM Bitcoin, a Japanese crypto trade, suffered a colossal $305
million loss, whereas Turkey’s largest cryptocurrency trade, BtcTurk, reported
a $55 million loss. These two occasions alone accounted for 62.8% of the whole
losses in Q2.

Hacks continued to dominate as the first reason for
crypto losses. Out of the whole $572,688,861 misplaced, $564,238,811 resulted from
hacks throughout 53 incidents, representing a 155% enhance in comparison with the identical
interval final 12 months. Fraud, together with scams and rug pulls, accounted for a smaller
portion, with $8,450,050 misplaced throughout 19 incidents. This represents an 81%
lower from the identical interval of final 12 months.

Centralized Finance (CeFi) platforms have been the principle
targets, struggling 70% of the whole losses, whereas Decentralized Finance (DeFi)
platforms accounted for the remaining 30%. CeFi platforms skilled a
staggering 984% enhance in losses, with $401,400,000 misplaced throughout 5
incidents. In distinction, DeFi platforms noticed a 25% lower, with losses totaling
$171,288,861 throughout 62 incidents.

Most Focused Blockchains

Among the many most focused blockchains, Ethereum and BNB
Chain have been probably the most focused blockchain networks in Q2 2024. Ethereum confronted 34
incidents, representing 46.6% of the whole losses, whereas BNB Chain witnessed 18
incidents, accounting for twenty-four.7% of the losses. Different chains, corresponding to Arbitrum,
Polygon, Solana, and Fantom, skilled fewer assaults however nonetheless contributed to
the general losses.

Regardless of the excessive quantity of losses, there have been some
successes in recovering stolen funds. Roughly $26,736,000, or 5% of the
complete losses, was recovered in Q2 2024, a slight enchancment from the three.9%
restoration fee in Q2 2023. This means progress in monitoring and reclaiming
stolen property, though challenges stay.

This text was written by Jared Kirui at www.financemagnates.com.



Source link

Tags: CryptoFraudstersHackerslossesresurgenceSoarTheft
Previous Post

Cardano Foundation Gears Up For Chang Hard Fork

Next Post

OpenSea Dethrones Magic Eden And Blur To Become The Most Traded NFT Marketplace

Related Posts

Crypto Explosion Ahead? CLARITY Act Could Push Market To $10-T — Cardano Founder | Bitcoinist.com
Crypto Updates

Crypto Explosion Ahead? CLARITY Act Could Push Market To $10-T — Cardano Founder | Bitcoinist.com

2 August 2025
MGBX Review: Is It Safe to Buy & Sell Cryptos in 2025?
Crypto Updates

MGBX Review: Is It Safe to Buy & Sell Cryptos in 2025?

2 August 2025
Retail Investors Get Green Light for Crypto ETNs in the UK
Crypto Updates

Retail Investors Get Green Light for Crypto ETNs in the UK

1 August 2025
Trump Slaps Brazil and Canada With 50% and 35% Tariffs; Mexico Gets Breathing Room – Economics Bitcoin News
Crypto Updates

Trump Slaps Brazil and Canada With 50% and 35% Tariffs; Mexico Gets Breathing Room – Economics Bitcoin News

1 August 2025
FCA to Allow Retail Investors to Gain Access to Crypto ETNs Starting October
Crypto Updates

FCA to Allow Retail Investors to Gain Access to Crypto ETNs Starting October

1 August 2025
Wall Street’s Quiet Crypto Takeover: New Charts Reveal Who’s in and Who’s Still Blocking Access
Crypto Updates

Wall Street’s Quiet Crypto Takeover: New Charts Reveal Who’s in and Who’s Still Blocking Access

1 August 2025
Next Post
OpenSea Dethrones Magic Eden And Blur To Become The Most Traded NFT Marketplace

OpenSea Dethrones Magic Eden And Blur To Become The Most Traded NFT Marketplace

Exploring Bitcoin L2s: Possibilities Beyond Lightning

Exploring Bitcoin L2s: Possibilities Beyond Lightning

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

19 July 2025
PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

30 July 2025
BNB Price Gears Up for Upside Break — Will Bulls Deliver?

BNB Price Gears Up for Upside Break — Will Bulls Deliver?

8 July 2025
Something Big Is Coming For XRP On July 9—Why It Matters

Something Big Is Coming For XRP On July 9—Why It Matters

8 July 2025
XRP could rally higher on steady capital inflow; check forecast

XRP could rally higher on steady capital inflow; check forecast

8 July 2025
10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

24 May 2025
Hong Kong Reports Decrease in Negative Equity Residential Mortgages by Mid-2025

Hong Kong Reports Decrease in Negative Equity Residential Mortgages by Mid-2025

2 August 2025
FCA Announces Plans to Grant Retail Access to Crypto Exchange-Traded Notes

FCA Announces Plans to Grant Retail Access to Crypto Exchange-Traded Notes

2 August 2025
Crypto Explosion Ahead? CLARITY Act Could Push Market To $10-T — Cardano Founder | Bitcoinist.com

Crypto Explosion Ahead? CLARITY Act Could Push Market To $10-T — Cardano Founder | Bitcoinist.com

2 August 2025
XRP Is Set To Move Trillions — Banking CEO Drops Bombshell On Ripple’s Role In Tokenizing Finance

XRP Is Set To Move Trillions — Banking CEO Drops Bombshell On Ripple’s Role In Tokenizing Finance

2 August 2025
Hong Kong Stablecoin Licensing Regime Takes Effect

Hong Kong Stablecoin Licensing Regime Takes Effect

2 August 2025
Qubic’s ‘Warming up the Engines’ Report Details 51% Strategy Ahead of Showdown With Monero – Crypto News Bitcoin News

Qubic’s ‘Warming up the Engines’ Report Details 51% Strategy Ahead of Showdown With Monero – Crypto News Bitcoin News

1 August 2025
Facebook Twitter Instagram Youtube RSS
Coin Digest Daily

Stay ahead in the world of cryptocurrencies with Coin Digest Daily. Your daily dose of insightful news, market trends, and expert analyses. Empowering you to make informed decisions in the ever-evolving blockchain space.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITEMAP

  • About us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$113,914.00-1.40%
  • ethereumEthereum(ETH)$3,519.56-4.14%
  • rippleXRP(XRP)$3.011.64%
  • tetherTether(USDT)$1.00-0.03%
  • binancecoinBNB(BNB)$767.07-1.37%
  • solanaSolana(SOL)$164.66-2.50%
  • usd-coinUSDC(USDC)$1.000.00%
  • staked-etherLido Staked Ether(STETH)$3,513.03-4.20%
  • tronTRON(TRX)$0.3276420.56%
  • dogecoinDogecoin(DOGE)$0.202431-2.23%