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February crypto losses reach $67 million, bringing total annual losses to $200 million – Immunefi
In February, the crypto sector experienced losses totaling $67 million across 12 incidents, with hacks representing 97.54% of the stolen funds, as reported by Immunefi’s latest analysis on crypto losses.
Conversely, the remaining 2.46% of the stolen funds were attributed to fraudulent activities.
Although the losses for the month were substantial, they showed a significant decline compared to January 2024, suggesting potential enhancements in security protocols or heightened awareness within the crypto sector, according to the report.
February figures
The majority of the losses were incurred by the crypto gaming platform PlayDapp and the decentralized exchange FixedFloat, which lost $32.35 million and $26.1 million, respectively. Duelbits, an online casino featuring crypto options, suffered a loss of $4.6 million.
These losses collectively accounted for $63.05 million of February’s total losses of $67.07 million. The remaining losses were distributed among various platforms, with only RiskOnBlast and Blueberry Protocol exceeding $1 million in losses.
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The report indicated that Ethereum was the most frequently targeted blockchain, experiencing 12 attacks, while projects on BNB Chain and Bitcoin each faced one attack during the month.
All incidents were directed at DeFi platforms and services, with no losses reported in the CeFi sector.
Annual losses at $200 million
Crypto losses in February decreased by 50% compared to the $133 million lost in January across multiple incidents.
The cumulative losses for the year now total $200 million, reflecting a 15.4% increase compared to the same timeframe last year.
Immunefi’s reports for January and February did not include certain attacks, such as a $6.4 million incident involving Seneca, a $6.2 million attack on LastPass users, a $6.5 million attack on the MIM stablecoin, and a significant $112 million attack on the personal wallet of Ripple co-founder Chris Larsen.
If these incidents were accounted for, the total losses would amount to $198.1 million for February and $398.1 million year-to-date.
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