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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. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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Crypto Industry Celebrates End of Operation Choke Point 2.0
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