Q2 2024 surged crypto hacks; how to protect your assets with @hackless_defi

Overview of Recent Crypto Hacks
According to blockchain security platform @immunefi, crypto losses from hacks and scams more than doubled to over $572 million in Q2 2024, up from $220 million in Q2 2023. It marks a dramatic reversal from the decline previously seen in Q1 2024, during which there was a noted reduction of 23% in losses. Some major events caused most of the losses, and they targeted mostly centralized exchanges.

Centralized vs Decentralized Losses
In the quarter in hand, centralized protocols lost roughly $401 million, about 70% of the total. These entailed just five attacks but were very costly. Comparatively speaking, DeFi protocols sustained 62 incidents for a total loss of $171 million—down 25% compared to Q2 2023.

Already, Ethereum and the $BNB Smart Chain made up the top two most targeted networks by scammers and hackers, holding 71% of total losses. There is also a growing body of evidence that Ethernet layer 2 solutions, particularly Arbitrum, are being increasingly targeted by malicious actors. The former suffered four significant incidents, accounting for 5.5% of the total losses. Other layer 2 solutions, like Blast and Optimism, were also hit many times.

The Importance of Robust Security Measures
Immunefi founder @MitchellAmador said the event had underlined in bold type how necessary robust security measures are today, particularly across centralized exchange infrastructures. "This quarter highlights how infrastructure compromises can be the most devastating hacks in crypto, as a single compromise can lead to millions in damages," he stated.

Safeguard Your Assets with Hackless
Basically, considering such trends as alarming for one's digital assets, securing them becomes paramount. Hackless provides an all-in-one security suite of tools in DeFi for protecting assets:

▪️ Wallet Rescue: A tool for secure sweeping of funds out of compromised wallets, thereby making assets inaccessible for attackers.
▪️ Anti-Sandwich: Ensures no sandwich attacks so that trading is fair and secure.
▪️ Sentinel: performs real-time monitoring and transaction analysis, thus able to detect vulnerabilities and suspicious activities.
▪️ Rug Pull Protection: It puts up an active defense against rug pulls, thus saving investors from scam schemes.

Hackless Community Challenge: Get Rewarded with Points
To promote proactive engagement and nurture security skills, Hackless has come up with the Community Point System. With so many activities, you can earn a number of points to climb higher in the ranking and receive the respective prizes. Here's how you can get those points:

- Wallet Rescue Bundle : 50 points
- RPG bot registration: 20 points
- Create a bot monitoring profile (whale sale or rug pull): 10 points.
- Successful Case for Profile: 15 Points
- Unsuccessful case: 25 points Review on X: 15 marks.

The recent surge in crypto hacks is a case for improving security measures. Gear up with Hackless utilities for the protection of your assets and much greater confidence when moving around the spaces of cryptocurrencies.

Be smart, be safe, and get in touch with Hackless as you level up your DeFi security skills.