CoinDesk Reports:
According to the latest research from cybersecurity firm SlowMist, cryptocurrency hacking incidents have increased by 50%, resulting in a $400 million loss within the Ethereum (ETH) ecosystem so far this year.
SlowMist’s mid-2024 report reveals that Ethereum suffered the largest losses by market value within its ecosystem, amounting to $400 million. Following Ethereum, the second-largest losses were incurred by second-layer scaling solutions Arbitrum (ARB) and Blast, amounting to $72.46 million and $70 million, respectively.
Additionally, Binance Smart Chain (BSC) experienced the highest number of security incidents, totaling 57, with losses approximating $32.12 million.
The company notes that in the first half of 2024, there were a total of 223 security incidents in the digital asset industry, resulting in $1.43 billion in losses. This represents an increase of over 50% from the $920 million lost in the first half of 2023.
SlowMist continues to highlight decentralized finance (DeFi) as the most severely targeted sector within cryptocurrencies, accounting for nearly 71% of all incidents in the first half of this year.
“In terms of project trajectory, DeFi remains the most frequently attacked area. The first half of 2024 saw 158 DeFi security incidents, constituting 70.85% of the total incidents and resulting in losses of $659 million. Compared to the first half of 2023, which had 111 incidents and approximately $480 million in losses, this signifies a 37.29% year-on-year increase in losses.”
According to SlowMist’s data, the top two reasons for exploit were contract vulnerabilities and exit scams, resulting in 56 and 50 incidents, respectively.
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