Crypto trade losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, in line with Immunefi’s newest crypto losses report.

In the meantime, the remaining 2.46% of the funds stolen have been misplaced as a consequence of fraud.

Regardless of the numerous losses through the month, there was a notable lower in comparison with January 2024, hinting at attainable enhancements in safety measures or elevated vigilance inside the crypto group, the report mentioned.

February numbers

Crypto gaming platform PlayDapp and decentralized alternate FixedFloat accounted for almost all of losses with$32.35 million and $26.1 million, respectively. Duelbits, an internet on line casino with crypto options, misplaced $4.6 million.

Collectively, these losses accounted for $63.05 million of February’s $67.07 million complete losses. The remaining losses have been unfold throughout a number of platforms, with solely RiskOnBlast and Blueberry Protocol shedding greater than $1 million.

In keeping with the report, Ethereum was essentially the most focused chain with 12 assaults, whereas tasks on BNB Chain and Bitcoin suffered one assault every through the month.

The entire incidents focused DeFi platforms and providers, whereas CeFi didn’t expertise a single loss.

Yearly losses at $200 million

Crypto losses in February fell 50% in comparison with the $133 million misplaced in January throughout varied incidents.

Mixed losses for the yr now stand at $200 million — 15.4% greater in comparison with the identical interval a yr in the past.

Regardless of the rise in losses year-over-year, a Peckshield report revealed that hacks and scams fell 27.78% in comparison with the identical interval within the earlier yr. This implies its tougher to execute hacks and fraud total, showcasing growing vigilance and safety.

Immunefi’s January and February studies omitted sure assaults, together with a $6.4 million assault on Seneca, a $6.2 million assault on LastPass customers, a $6.5 million assault on the MIM stablecoin, and, most notably, a $112 million assault on Ripple co-founder Chris Larsen’s private pockets.

If included, these hacks would convey the full quantity misplaced to $198.1 million February and $398.1 million year-to-date.