Blockchain Hack Losses Plummet 60% in First Half of 2024

The first half of 2024 saw a significant decline in blockchain hack losses, according to a report from SlowMist. The total value lost was approximately $956 million, down 60% from the same period last year when it was $2.373 billion.

While the financial damage decreased sharply, the number of reported incidents actually rose from 121 to 182. This indicates that attackers are targeting smaller-scale but more frequent attacks.

The decentralized finance (DeFi) sector bore the brunt of the attacks, with 116 incidents accounting for roughly $490 million in losses. Cross-chain bridge vulnerabilities also remained a major concern, with 20 incidents totaling approximately $346 million.

Ethereum suffered the highest losses at $134 million, followed by BNB Chain at $36.35 million and Arbitrum at $4.93 million. These networks host the largest concentration of DeFi protocols, making them prime targets for attackers.