- Defi platforms witnessed a surge in cyberattacks in February 2024, resulting in losses exceeding $67 million.
- Hacking incidents accounted for 97% of the total losses, with the Ethereum blockchain being the primary target.
- Despite a drop in losses compared to January, year-to-date losses increased by 15.4%, reaching over $200 million.
- Playdapp and Fixedfloat suffered the most significant breaches, with losses amounting to $32.5 million and $26.1 million, respectively.
- In contrast, centralized finance (cefi) platforms recorded zero major exploits, highlighting their robust security.
Defi Platforms Face Surge in Cyberattacks
Decentralized finance (defi) platforms experienced a notable spike in cybercrime during February 2024, resulting in the loss of more than $67 million, as revealed by the latest Immunefi report. The data indicates that hacking attacks constituted a staggering 97% of the total losses for the month. Among the targeted chains, the Ethereum blockchain bore the brunt, encountering 12 incidents that contributed to 85.71% of the overall losses across various platforms.
Defi vs. Cefi Security Landscape
While February showcased a decline in losses compared to the preceding month, with losses halving to $67 million from January’s $133.4 million, the year-to-date losses witnessed a concerning uptick of 15.4%, surpassing the $200 million mark. Notably, the breaches on Playdapp and Fixedfloat emerged as the most significant, with losses amounting to $32.5 million and $26.1 million, respectively. In contrast, centralized finance (cefi) platforms demonstrated robust security measures, recording zero major exploits during the same period.