Ethereum Ecosystem Lost $400 Million From Hacking in First 6 Months of 2024: Report

Among blockchain ecosystems, Ethereum suffered the most losses in hacking incidents during the first half of 2024, according to a recent report by cybersecurity firm SlowMist.

There were a total of 223 blockchain security incidents in the first half of 2024, up from 185 in the same period last year, the July 2 report said. Losses from these incidents have totaled $1.43 billion this year so far, up more than 50 percent from 2023. Of these, the Ethereum blockchain ecosystem suffered the most, with $400 million in losses, followed by Arbitum at a distant second with $72.46 million.

The biggest reason for the security breaches was found to be vulnerabilities in blockchain contracts, which can include issues like bugs in the code. The second top reason was “rug pull,” a type of exit scam where a crypto team raises money from investors and the public by selling digital tokens only to disappear with the funds.

Read Full Article Here

 

Follow us

Read our latest news on any of these social networks!

Get latest news delivered daily!

We will send you breaking news right to your inbox


Have a tip? Let us know!

Recent Articles

  • by:
  • Source: NBC News
  • 03/21/2025
...
Alexandria Ocasio-Cortez and Bernie Sanders rally Democrats, calling for a party that 'fights harder'

The two progressive lawmakers kicked off the western part of their "Fighting Oligarchy" tour Thursday, with stops in Nevada and Arizona.

  • by:
  • Source: NBC News
  • 03/21/2025
...
Elon Musk to visit the Pentagon to discuss China

The New York Times reported Musk would receive a briefing on plans for any potential war with China, citing two U.S. officials. President Donald Trump denied the report.

...
Trump admin denies Elon Musk will get exclusive China briefing after anon officials leak plans

“Their FAKE concept for this story is that because Elon does some business in China, that he is very conflicted and would immediately go to top Chinese officials and ‘spill the beans.’”

  • by:
  • Source: WTOP
  • 03/20/2025
...
Georgetown Univ. researcher detained by federal immigration officials

A researcher at Georgetown University was detained by federal immigration agents on Monday night.