CoinWired reports:
According to the latest research from cybersecurity firm SlowMist, the number of cryptocurrency hacking incidents has increased by 50%, resulting in a loss of $400 million within the Ethereum (ETH) ecosystem so far this year.
Based on SlowMist’s mid-2024 report, Ethereum suffered the largest losses by market value due to ecosystem exploitation, followed by second-layer scaling solutions Arbitrum (ARB) and Blast.
“From an ecosystem perspective, Ethereum incurred the highest losses, amounting to $400 million. Arbitrum followed with $72.46 million in losses, and Blast with $70 million.”
Additionally, Binance Smart Chain (BSC) experienced the highest number of security incidents totaling 57, resulting in approximately $32.12 million in losses.”
The company stated that according to its research, the digital assets industry experienced a total of 223 security incidents in the first half of 2024, resulting in losses of $1.43 billion. This marks an increase of over 50% compared to the $920 million in losses during the first half of 2023.
SlowMist further highlighted that decentralized finance (DeFi) remains the most heavily targeted sector within cryptocurrencies, accounting for nearly 71% of all incidents in the first half of this year.
“DeFi emerges as the most frequently targeted area in terms of project trajectory. In the first half of 2024, there were 158 DeFi security incidents, accounting for 70.85% of the total incidents and resulting in losses of $659 million. Compared to the first half of 2023, with 111 incidents and losses of approximately $480 million, this represents a 37.29% increase in losses.”
According to SlowMist’s data, the top two causes of exploitation were contract vulnerabilities and exit scams, accounting for 56 and 50 incidents, respectively.
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