Immunefi: $409 million worth of cryptocurrency stolen in Q3, a 40% year-on-year decrease.

According to Deep Tide TechFlow news, the latest report from the bug bounty platform Immunefi reveals that in the third quarter of 2024, the cryptocurrency sector experienced a total of $409 million in hacker thefts, with an additional $3 million lost due to fraud. This figure represents a 40% decrease compared to the same period in 2023. Immunefi points out that the locked funds in DeFi protocols provide hackers with "unparalleled and attractive opportunities." Data from DefiLlama shows that the total value locked (TVL) in DeFi currently reaches $87.20 billion. The largest losses this quarter came from attacks on cryptocurrency exchanges, with India's WazirX suffering a loss of $235 million, Singapore's BingX losing $52 million, and another 32 hacking incidents accounting for 32% of the total losses. Mitchell Amador, founder and CEO of Immunefi, stated that the number of attacks on DeFi is increasing, while although CeFi has fewer incidents, the losses per incident are often more severe. The Ethereum blockchain is the most common target for hackers, reporting 15 theft incidents, followed by BNB Chain with 8 and Base with 2.