- An analysis report on hacks in January 2024 has been released by Immunefi analysts.
- Compared to the previous month, losses caused by hackers have increased by 2.8 times.
- However, it should be noted that the report does not include the hack on the Somesing platform ($11.5 million) and the attack on the Abracadabra Finance DeFi protocol ($6.5 million).
The report presented by Immunefi analysts focuses on the losses incurred by the cryptocurrency industry due to hacks in January 2024.
The report highlights 19 specific incidents of hacker attacks on various projects, leading to total losses exceeding $126 million. Compared to December 2023, this represents a 2.8-fold increase in losses, as stated by the analysts.
One significant incident involves the Orbit Finance internet protocol, which suffered an attack on January 1, 2024, resulting in losses of $81.5 million. The protocol management has accused a former employee of being involved in the hack.
Another notable case is the hack on the GAMEE project, which lost $15 million. The CoinsPaid platform is also mentioned in the top three, with losses of $7.5 million due to a hacker attack on January 6, 2024.
Analysts highlight that nearly 97% of the losses in this period are attributed to hacker attacks, with the remaining 3% being related to phishing, scams, and other illegal activities.
It’s important to mention that the aforementioned report excludes two significant hacking cases:
On January 27, 2024, the Somesing blockchain platform suffered a hack resulting in approximately $11.5 million being stolen. The attackers were able to make off with 730 million SSX tokens, out of which 504 million were not yet in circulation, and 226 million SSX were stored in the project fund.
On January 30, 2024, the decentralized Abracadabra Finance protocol fell victim to a hack, resulting in losses of $6.5 million. The incident was attributed to security vulnerabilities in the project’s smart contract.
It’s worth recalling that in 2023, PeckShield experts reported a total of $2.61 billion in damages caused by hacks, with $674.9 million recovered.