CandleFocus Crypto losses hit second-lowest level of $71 million in November 2024
2024-11-29
Author: Content Editor
In November 2024, the crypto industry saw its second-lowest monthly losses, with $71 million lost across 26 incidents. This was a significant improvement compared to the previous year, with a 79% drop in losses. Year-to-date figures show that the industry lost $1.48 billion in 2024 due to hacks and rug pulls, a 15% decline compared to the previous year. DeFi platforms were the primary target, accounting for 100% of the lost funds. Hacks remained the leading cause of losses, with BNB Chain being the most targeted blockchain. Centralized exchanges have become a significant target in 2024, accounting for almost 50% of total crypto-related losses. Vulnerabilities in CeFi often stem from compromised hot wallets. Blackhat hackers are adopting innovative methods to exploit centralized platforms.
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