The cryptocurrency market has lost more than $343.5 million so far this year.
The cryptocurrency sector lost around $160 million in February as a result of breaches, scams, and vulnerabilities. Despite a rise in pricing, the results showed a little decline from January.
The most recent data from CertiK shows that exploits made up $101 million, while exit scams took $58.2 million. The amount recovered was $6.4 million, with $14.6 million being attributed to phishing. At $138,000, the losses from flash loans were negligible.
Top on CertiK’s list is BitForex, a cryptocurrency exchange situated in Hong Kong. The site ceased processing transactions a day prior, and BitForex’s hot wallets saw assets outflowing of almost $56.5 million. It stopped working, and the staff ignored customer complaints.
Hackers stole the secret keys to generate more than 1.79 billion PLA tokens, causing the crypto gaming site PlayDapp to lose $32.4 million.
FixedFloat, a decentralized exchange that lost about $26 million in Bitcoin and Ether due to a breach, was the third largest event on CertiK’s list in February, behind only Jihoz.Ron and Seneca own $9.7 million and $6.5 million, respectively.
A total of $62.54 million has been lost due to exit scams since the start of this year. The year-to-date (YTD) losses for flash loans were $15.409 million, with $138,000 in losses in February compared to a staggering $15.3 million in January.
BurnsDefi lost $64,000 in the five worst flash loan attacks. ZoomerCoin, Azuma ERC 404, Synthetix, and RabbitERCX came in second through fifth, losing $41,120, $26,116, $3,663, and $2,756, respectively. The losses for the year thus far amount to around $343.5 million as of 2024.
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