{"id":101835,"date":"2024-11-28T12:18:59","date_gmt":"2024-11-28T16:18:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101835"},"modified":"2024-11-28T12:20:41","modified_gmt":"2024-11-28T16:20:41","slug":"crypto-hackers-swipe-71m-in-november","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-hackers-swipe-71m-in-november\/","title":{"rendered":"Crypto Hackers Swipe $71M in November, Pushing Yearly Total to $1.48B"},"content":{"rendered":"\n

Cryptocurrency hackers<\/a> continue to damage the industry's reputation, with the annual worth of cyberattacks approaching $1.5 billion.<\/p>\n\n\n\n

\"Crypto<\/figure>\n\n\n\n

Cryptocurrency hackers continue to harm the industry\u2019s reputation, with the total value stolen through cyberattacks in 2024 nearing $1.5 billion. According to an Immunefi report shared with Cointelegraph, hackers stole over $71 million worth of digital assets in November alone.<\/p>\n\n\n\n

This brings the year-to-date (YTD) total to $1.48 billion across 209 incidents. The report noted:
<\/p>\n\n\n\n

\n

\u201cIn total, we have seen a loss of $1,489,921,677 to hacks and rug pulls in 2024 YTD across 209 specific incidents. This represents a 15% decrease compared to the same period in 2023, when losses totaled $1,757,680,745.\u201d<\/p>\n<\/blockquote>\n\n\n\n

\"Crypto
Crypto theft in November 2024. Source: Immunefi<\/em><\/figcaption><\/figure>\n\n\n\n

The 15% drop from 2023 offers some relief to cryptocurrency investors<\/a>, alleviating fears that losses this year could surpass last year\u2019s figures. However, the industry must remain alert to prevent further damage, warned Mitchell Amador, founder and CEO of Immunefi.<\/p>\n\n\n\n

Amador stated:
\u201cThe industry is always one attack away from massive damage. While losses due to crypto hacks have decreased compared to previous years, threats persist, and hackers continue to evolve. This is evident in how they infiltrate projects, compromise hot wallets, and exploit vulnerabilities in the darkest corners of the ecosystem.\u201d<\/p>\n\n\n\n

Rising Crypto Valuations Attract More Hackers<\/h2>\n\n\n\n

The increasing value of top cryptocurrencies and the surge in total value locked (TVL) within decentralized finance (DeFi)\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> continue to make the sector a lucrative target for hackers.<\/p>\n\n\n\n

TVL has grown by over 164% since the end of 2023, prompting Amador to emphasize the need for greater vigilance among investors and project developers. He added:
<\/p>\n\n\n\n

\n

\u201cThis rise also highlights the heightened risks, as the increasing amount of funds in the ecosystem creates an even more attractive target for hackers. Vigilance and proactive security measures are essential to protect projects and users moving into 2025.\u201d<\/p>\n<\/blockquote>\n\n\n\n

\"Crypto
Top 10 losses in November 2024. Source: Immunefi<\/em><\/figcaption><\/figure>\n\n\n\n

Major Incidents in November<\/h2>\n\n\n\n

Among the notable attacks, the $25.5 million Thala exploit was the largest in November. Fortunately, the protocol managed to recover all assets lost due to the farming vulnerability.<\/p>\n\n\n\n

The $21 million DEXX hack on Nov. 18 was the second-largest incident of the month, impacting over 900 individual investors.<\/p>\n\n\n\n

As of June 2024, the crypto industry has suffered over $19 billion in losses across 785 reported hacks and exploits over the past 13 years.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency hackers continue to damage the industry’s reputation, with the annual worth of cyberattacks approaching $1.5 billion. Cryptocurrency hackers continue to harm the industry\u2019s reputation, with the total value stolen through cyberattacks in 2024 nearing $1.5 billion. According to an Immunefi report shared with Cointelegraph, hackers stole over $71 million worth of digital assets in […]<\/p>\n","protected":false},"author":56,"featured_media":101839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[202,710,376,15458,197,937,12002],"class_list":["post-101835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-business","tag-cryptocurrencies","tag-cybercrime-2","tag-defi","tag-hackers","tag-hacks"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/Crypto-Hackers-Swipe-71M-in-November-Pushing-Yearly-Total-to-1.48B.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101835"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101839"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}