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Ethereum Revealed As The Leading Crypto For Blockchain Hacks In 2024

Louis Fargher

A recent study has revealed that the cryptocurrency, Ethereum, is the leading victim of blockchain hacks in 2024 so far.

Ethereum Revealed As The Leading Victim For Blockchain Hacks In 2024

Around 33 incidents of Ethereum being targeted in blockchain hacks have been reported, ranking number one in comparison to other cryptocurrencies.

The date, curated by Smart Betting Guide’s has analyzed Ethereum’s activity placing it as number one in terms of blockchain attacks and BNB Chain sits second with 14 in 2024.

Solana and Arbitrum have also suffered hacks, being victim to 6 attacks this year and Bitcoin has only experienced two in 2024 – which is significantly less than the 33 endured by Ethereum.

The Decentralized Finance sector continues to be the leading target for blockchain hackers, being victim for all of the incidents so far.

In 2024 so far, the biggest losses are Orbit Bridge ($81,680,000), Munchables ($62,800,000), PlayDapp ($32,350,000), FixedFloat ($26,100,000), GMEE ($15,000,000), WOOFi ($8,750,000), Coinspaid ($7,500,000), Abracadabra Money ($6,500,000), Seneca ($6,500,000) and Gamma Strategies ($6,200,000).

A recent report showed that crypto traders have suffered huge losses, reaching $437m via scams and hacks in 2024. Also, other illegal actions like rug pulls have added a further $14m to the losses.

CertiK reported a large decline in crypto theft in March and revealed a total of $79m had been stole from DeFi projects – dropping from $160m in February.

Ethereum were victim to one of the largest crypto thefts in March, as MakerDAO’s sub-sector, Curio were said to have stolen $16m – which eventually grew to $40m from further investigation.

Prisma Finance were also subject to a big loss during the month of March, as a ‘flash loan’ caused a $12.4m loss and this came from a white-hat hacker who has promised to hand the stolen funds back.

However, the outcome of this is yet to be finalized, as the hacker has now asked members from the cryptocurrency to publicly reveal their identity.

Louis Fargher
Louis Fargher