Crypto Hacks Total $74M in January and CeFi Accounts for 93% of Losses
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Cryptocurrency hacks have led to $74 million in losses in January, with centralized finance (CeFi) platforms bearing the majority of the impact.
This marks a 45% drop from the $133 million recorded in the same month last year, according to a Jan. 30 report by cybersecurity platform Immunefi. Despite the decline, security threats remain, with hacks accounting for all reported losses. The largest incident involved crypto exchange Phemex, which lost $69.1 million.
CeFi, or crypto platforms that custody users’ funds, accounted for 93% of total losses, despite only one successful attack, while 19 incidents across decentralized finance (DeFi) made up the remaining 6.5%. The most targeted chain in Jan. 2025 was the BNB Chain, accounting for 50% of Jan.’s losses on-chain. Ethereum came in second place, with 25% of the total.
Despite the decline in total losses, the latest figures highlight the persistent security risks facing the crypto industry. This also underscores the importance of securing digital assets as the crypto sector expands.
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