“The cumulative losses of the Web3 market for 2024 exceeded $2.9 billion, including the losses of DeFi, CeFi platforms, games and metaverses. In 78% of cases, access control vulnerabilities were the cause of the hacks. This is stated in the Hacken report. Source: Hacken. According to analysts, the losses of the DeFi segment compared to last year decreased by 40% — from $787 million to $474 million. The biggest was Radiant Capital hacking for $55 million. At the same time, CeFi’s losses more than doubled, […]”, — write: businessua.com.ua
Cumulative losses of the Web3 market for 2024 exceeded $2.9 billion, including DeFi losses, CeFi– platforms, games and metauniverses. In 78% of cases, the cause of breakages was steel access control vulnerabilities. This is stated in the Hacken report.
Source: Hacken.
According to analysts, the losses of the DeFi segment compared to last year decreased by 40% — from $787 million to $474 million. The biggest was Radiant Capital hacking for $55 million.
At the same time, CeFi’s losses more than doubled to $694 million. The most notable incidents are the DMM Exchange private key compromise ($305 million loss) and the exploitation of the WazirX multi-signature vulnerability ($230 million).
A sharp decrease in the number of attacks on cross-chain protocols was also recorded. As a result, their losses were reduced by 70% — from $338 million in 2023 to $114 million in 2024.
Losses of game projects and metauniverses amounted to a total of $389 million or 18% of all incidents on the crypto market.
Phishing allowed criminals to steal $600 million.
Rug pull schemes have not lost their relevance, but fraudsters have switched from the BNB Chain network to the Solana blockchain. This was primarily due to the growing popularity of memecoins.
One of the notable trends this year was pre-sale fraud. According to on-chain detective ZachXBT, 27 such episodes in April 2024 alone brought hackers more than $122.5 million.
Also, in the promotion of meme tokens, attackers often used the names of public figures and influencers.
“The prevalence of meme and celebrity scams highlights the evolving nature of crypto-scams. New tactics leverage social influence and the accessibility of blockchain tools to Web3 users,” Hacken analysts concluded.
We will remind, according to Chainalysis, North Korean hackers stole at least $1.34 billion worth of crypto-assets in 2024.
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