New data from crypto security firm ImmuneFi reveals that hackers and fraudsters stole tens of millions of dollars this month with the blockchain of Binance being their top target.
In a new thread on the social media platform X, ImmuneFi says that the crypto markets have seen an overall decrease in fraudulent activity compared to a year ago, suggesting that crypto is getting safer overall.
[adinserter block="1"]“Is crypto getting safer? The ecosystem has lost $1.48 billion to hackers and rug pullers YTD (year-to-date) – a 15% decrease compared to $1.7 billion during the same period last year. The decrease is also noticeable on a month-over-month basis.”
According to ImmuneFi, even though November saw over $71 million stolen by hackers and rug pullers, the number pales in comparison to the amount stolen last year.
“In November 2024, we saw total losses of $71 million, the second-lowest monthly loss this year. Looking at the same period last year, over $343 million was lost.”
In its Crypto Losses in November 2024 report, ImmuneFi notes that bad actors targeted the BNB Chain, the blockchain of the world’s largest crypto exchange by volume, the most.
According to the data, leading smart contract platforms Ethereum (ETH) and Solana (SOL) and layer-1 blockchain Avalanche (AVAX) were impacted as well.
“BNB Chain suffered 14 individual attacks, representing 46.7% of the total losses across targeted chains. Ethereum experienced 9 incidents, representing 30% of the total. Solana, Polygon, Fantom, Avalanche, Arbitrum, and Aptos each experienced one incident, accounting for 3.3%, respectively.”
ImmuneFi concludes by noting that investors shouldn’t quite celebrate the dip in numbers as bad actors are increasingly targeting centralized exchange platforms, which tend to get hit harder by hacks.
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