CRYPTO LOSSESIN AUGUST 2024
PREPARED BY IMMUNEFICrypto Losses: August 2024
ANALYSIS• In total, we have seen a loss of $1,210,741,330 to hacks and rug pulls in 2024
YTD across 154 specific incidents. This represents a 15.5% increase
compared to the same period in 2023, when losses totaled $1,048,044,942.

July 2024 vs. August 2024
$274,719,252• In August 2024, $15,082,000 was lost due to hacks and fraud across fivespecific incidents, marking the lowest loss YTD. This represents a 38%
decrease from August 2023, when registered losses were $24,581,220, and a
94.5% decrease month-over-month.
• Most of the sum was lost in two specific projects: Ronin Network, a gamingfocused blockchain, with a loss of $12 million, and Nexera, a DeFi protocol,
which incurred a loss of $1.5 million.
• In August 2024, DeFi surpassed CeFi with five cases occurring, representing
100% of the total volume of funds lost.
• Hacks continued to be the predominant cause of losses compared to fraud. Atotal of $15,082,000 was lost due to hacks across five specific incidents. No
fraud events were reported in August.

$15,082,000
July 2024

August 2024

PREPARED BY IMMUNEFI• The most targeted chains in August 2024 were Ethereum and BNB Chain,representing 100% of the total losses across targeted chains.
2Top Losses in August 2024*
Ronin$12,000,000

Nexera$1,500,000

VOW$1,200,000

Convergence Finance$210,000

iVest DAO

$172,000

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3

Hacks vs. Fraud Analysis

Hacks vs. Fraud
August 2024

In August 2024, hacks continued to be the predominant cause of losses ascompared to fraud, accounting for 100% of the total losses. There were noreported fraud incidents in August 2024.

OVERVIEW• Hacks
In total, we have seen a loss of $15,082,000 to hacks in August 2024 across 5
specific incidents.
• Fraud
No fraud incidents were reported in August 2024.

Hacks
100.0%
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DeFi vs. CeFi Analysis

DeFi vs. CeFi
August 2024

In August 2024, DeFi again surpassed CeFi, representing 100% of the total volumeof funds lost.

OVERVIEW• DeFi
DeFi suffered $15,082,000 in total losses in August 2024 across 5 incidents.
• CeFi
No CeFi incidents were reported in August 2024.

DeFi
100%
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Losses by Chain
August 2024

Losses by Chain
The most targeted chains in August 2024 were Ethereum and BNB Chain.

OVERVIEW• Ethereum suffered 3 individual attacks, representing 60% of the total losses
across targeted chains. BNB Chain experienced 2 incidents, representing 40% ofthe total.

BNB Chain
2Ethereum
3

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In Focus: Crypto Losses YTDMONTHLY OVERVIEW

In total, the ecosystem has witnessed $1,210,741,330 in losses year-to-date (YTD) across 154 specific incidents. These losses were primarily driven
by over $358 million lost in May and over $274 million lost in July. August saw $15 million in losses, marking the lowest monthly total YTD.

$358,523,484$274,719,252$133,412,617$141,558,550$133,235,200$79,203,400$72,606,827$15,082,000

January

February

MarchAprilMayJune

JulyAugust7

Crypto Losses August 2024
HACKS VS. FRAUDTOTAL LOSSES YTD$1,210,741,330$15,082,000

Hacks
Fraud

IN AUGUST$0$15,082,000
DEFI VS. CEFI
MAJOR LOSSES

DeFi$12,000,000

CeFi$15,082,000$0TOP LOSSES BY CHAIN$1,500,000 $1,200,000$210,000$172,000

3BNB Chain

2OA
Decne
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WOVarexeN

nino
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Ethereum

For more information about the Crypto Losses Report, please visit immunefi.com/research.

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Disclaimer:• Immunefi uses publicly available data and news reports in order to access and collect alleged fraud, scams, and rug pulls. Including such incidents
in this report does not constitute a determination from Immunefi that a fraud, scam, or rug pull event did occur.
Notes:• Immunefi assesses the volume of crypto funds lost by the community due to hacks and scams by reviewing, validating, and classifying publicly
available data. In this report, Immunefi considered only rug pulls for its fraud category. A rug pull is a project that creates an image of credibility
and attracts outside capital through token sales or other means with the sole purpose of stealing deposited user funds and disappearing.
• *Top Losses in August 2024: $12 million in stolen funds were later recovered from the Ronin Network hack. The white hats who discovered thevulnerability and carried out the exploit warned Ronin's team about it and later returned the funds.
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