- Crypto crime losses reached $85.5 billion in November, bringing the annual loss to $2.43 billion.
- DeFi platforms remain key targets despite reduced losses in the second half.
According to security company Web3 Shieldcrypto crime reached $85.5 million in November, bringing total annual losses to $2.43 billion.
There were more than 30 hacks last month, but the total monthly loss was lower than October’s $102.42 million.
Source: Peckshield
DeFi remains a favored target
However, DeFi platforms remained the most targeted, with the hacks of Thala, DEXX, Gifto, Polter Finance and Delta Prime accounting for the bulk of November’s losses.
For example, Thala and DEXX lost $25.5 million and $21 million respectively, accounting for more than 50% of the losses.
However, Thala recovered almost the entire hacked amount, $25.2 million. DeFi remained the key target in 2024.
In a report on crypto crimes for the first half of 2024, Peckshield reported a loss of $1.56 billion, almost three times the loss reported during the same period in 2023 ($480 million).
At that time, around 60% of hacks targeted DeFi protocols, with Ethereum (ETH), Bitcoin (BTC)And Ripple (XRP) emerging as the top stolen tokens.
Part of its H1 2024 report read,
“This represents a significant increase of 293% compared to the same period in 2023 (with losses amounting to $480 million). DeFi protocols remained the main targets, accounting for 59% of the total value stolen. »
Source: Peckshied
The sector has lost $889.6 million in the second half so far. Although monthly crypto crime losses have declined since August The WaziriX sagaDeFi protocols remain primary targets in the second half of 2024.
Most of the hacks were carried out through phishing attacks (fake links to DeFi platforms), compromising the platform and users attempting to connect their wallets.
This requires due diligence on shared links and when connecting wallets to your favorite DEX (decentralized exchange) or DeFi platform.
