Crypto Hacks Total $71M in November

More than $71 million was stolen in November 2024 through crypto hacks and fraud, bringing the year’s total losses to approximately $1.5 billion, Immunefi reports. This reflects a 12% improvement compared to last year’s figures. November was the second-least damaging month of the year, following August, which saw $15 million in losses.

The 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,

said Mitchell Amador, founder and CEO of Immunefi.

Hacks accounted for 99.96% of the stolen funds, while scams made up the rest. Three projects were particularly hard-hit: Thala ($25.5 million), DEXX ($21 million), and PolterFinance ($12 million). Centralized platforms reported no breaches during this period.

In November, BNB Chain and Ethereum topped the list of most-targeted blockchains. The month’s total losses, ranging between $70 million and $130 million, followed the year’s general pattern but fell far short of May’s $359 million or July’s $282 million in stolen assets.

November 2024 detailed crypto losses. Source: Immunefi report.

Amador urged the crypto community to take security more seriously, pointing out that hackers are employing increasingly sophisticated techniques. Addressing vulnerabilities in hot wallets and thoroughly auditing code are crucial steps to prevent future breaches.