In November, the crypto industry's losses from theft and fraud reached $71 million, the second-lowest monthly figure in 2024. In addition, this figure is 79% lower than in November last year, when losses exceeded $343 million, and 4% lower than in October.
Analysts at the blockchain security company Immunefi calculated that since the beginning of 2024, the crypto market has recorded 209 incidents, as a result of which the industry has lost $1,48 billion. This is 15% less than for the same period in 2023.
In total, since the beginning of 2024, the crypto market has suffered losses of $1,48 billion due to hacks and fraud in 209 specific cases. This is 15% less than for the same period in 2023, when losses amounted to $1,75 billion, Immunefi experts wrote.
Crypto Industry Losses in 2024
If we talk about the largest incidents of the last month of autumn, the most large-scale were the hacking DeFi - the Thala protocol for $25,5 million and an attack on the DEXX memcoin trading terminal, as a result of which 900 users lost about $21 million.
Despite the crypto industry's low losses in November, Immunefi founder and CEO Mitchell Amador advised industry players to remain vigilant as "massive damage" could be caused by just one attack.
