{"id":2337,"date":"2024-06-28T18:02:13","date_gmt":"2024-06-28T18:02:13","guid":{"rendered":"https:\/\/cryptogoldex.com\/index.php\/2024\/06\/28\/crypto-industrys-q2-losses-from-hacks-and-scams-total-572-7-million\/"},"modified":"2024-06-28T18:02:13","modified_gmt":"2024-06-28T18:02:13","slug":"crypto-industrys-q2-losses-from-hacks-and-scams-total-572-7-million","status":"publish","type":"post","link":"https:\/\/cryptogoldex.com\/index.php\/2024\/06\/28\/crypto-industrys-q2-losses-from-hacks-and-scams-total-572-7-million\/","title":{"rendered":"Crypto industry&#8217;s Q2 losses from hacks and scams total $572.7 million."},"content":{"rendered":"<p>Centralized finance platforms have been the primary targets of breaches resulting in the loss of over $900 million to illicit activities year-to-date. This figure represents a 24% increase from the same period last year. A noticeable shift in targets has been highlighted by data from Immunefi, which indicates that in Q1, DeFi platforms were the sole targets of identified exploits.<\/p>\n<p>The losses from hacks and scams totaled $572.7 million, making up 62.8% of the total losses. The month of May 2024 saw the highest monthly losses in the quarter, amounting to $358.5 million. Mitchell Amador, founder and CEO of Immunefi, emphasized the severity of infrastructure compromises, explaining that a single compromise can lead to millions in damages and underlining the need for robust security measures to protect the entire ecosystem.<\/p>\n<p>Hacks were identified as the dominant form of loss, accounting for 98.5% ($564.2 million) of the total across 53 incidents. Meanwhile, fraud, scams, and rug pulls accounted for only 1.5% ($8.5 million) over 19 incidents. The increased regulatory scrutiny on DeFi platforms has prompted them to implement stricter security measures, potentially making them more challenging targets for exploits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Centralized finance platforms have been the primary targets of breaches resulting in the loss of over $900 million to illicit activities year-to-date. This figure represents [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[726],"tags":[],"class_list":["post-2337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi-platforms"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/2337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/comments?post=2337"}],"version-history":[{"count":0,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/2337\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media\/2336"}],"wp:attachment":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media?parent=2337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/categories?post=2337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/tags?post=2337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}