CandleFocus $412 Million Lost to Hacks in Q3 2024, Yet Overall Safety Improves
2024-09-27
Author: Content Editor
Immunefi, the bug bounty platform for blockchain, published its quarterly report on losses in the crypto sector. According to the report, $412 million was lost to hacks and frauds in the third quarter of 2024. However, the report also highlights that the overall security situation is improving, with a 40% decrease in losses compared to the previous year. Decentralized Finance (DeFi) is targeted more often, but Centralized Finance (CeFi) saw the biggest losses, emphasizing the importance of self-custody. The report suggests that infrastructure vulnerabilities are the main weak point for crypto projects, and self-custody is becoming increasingly important.
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