For the “crypto hack 2024” column, it seems that Ethereum is the most violated chain so far, with 33 hacking incidents, scams, and more. Currently, the estimated total losses amount to 437 million dollars.
Crypto hack 2024: the most targeted blockchain at the moment is Ethereum with 33 incidents
According to a research conducted by experts from Smart Betting Guide on crypto hack 2024, it seems that Ethereum is the blockchain most targeted by scams and hacker attacks.
And in fact, Ethereum seems to already have 33 incidents. Following that, there is BNB Chain with 14 incidents, Arbitrum with 6, Solana and Bitcoin both with 2 attacks each.
In general, experts also point out that the most vulnerable crypto sector for this 2024 remains DeFi, due to all the incidents that have occurred.
Anyway, making an estimate on the total, Smart Betting Guide reveals that this year’s crypto hacks have already caused losses of over 437 million dollars.
“Crypto hack 2024”: Ethereum and DeFi remain the most vulnerable
Last month, even MarketWaves analyzed reports on crypto hacks in the DeFi and Web3 world, sharing the De.Fi REKT report.
And in fact, the latter had reported that the losses for the month of February 2024 alone were already 82 million dollars.
Basically, during the month in question, the DeFi sector would have experienced a significant increase in security-related incidents. Specifically, the total lost due to various exploits on different chains and platforms was $82,287,101.
However, it seems that efforts to mitigate these losses have led to the recovery of $1,325,932, highlighting the ongoing battle between hacking and security in the crypto sector.
Only in the month of February 2024, there have been several significant events with the platforms PlayDapp, Fixed Float, and Jeffrey Zirlin among the most affected.
Some tips on how to keep your crypto safe
Experts from Smart Betting Guide, in light of the already significant presence of crypto hacks in this 2024, wanted to share a guide on how to keep your crypto safe.
First of all, the most useful advice of all, concerns the storage of the password and seed phrase of the various crypto wallets or exchanges where you hold your cryptocurrencies, which should absolutely not be stored on the Cloud.
Despite the convenience, the Cloud could be violated, therefore the best way is to save them in writing or have them engraved on a metal card (to protect them from water damage or fire) to be kept in a safe place.
Going forward, Smart Betting Guide recommends not using exchanges but hardware wallets to store your crypto in a safer way.
It is important to always stay updated through DYOR – Do Your Own Research (Do your own research). In fact, it is only in this way that you can understand any crypto hack techniques such as rug pull, before falling into the scam.
Not only, for the experts at Smart Betting Guide, when you want to invest in new blockchains or crypto projects, users should consider who the team and developers are, read and verify the quality of the Whitepaper.
In DeFi, it is also important to verify that the new project has a Total Value Locked (TVL) and that this value should be between 80% and 100%, as well as complying with standard practices of external audit.