The Ethereum ecosystem has lost 400 million in hacks since the beginning of the year

The cybersecurity firm SlowMist reports that the Ethereum ecosystem has lost $400 million from exploits so far this year, amidst a 50% increase in hacking attacks against cryptocurrencies.
The report
by SlowMist for mid-2024 reveals that
Ethereum
suffered the most significant losses, followed by
Arbitrage
with $72.46 million and Blast with $70 million.
Additionally, Binance Smart Chain (BSC) recorded the most security incidents, with 57 breaches resulting in approximately $32.12 million in losses.
The report details that in the first half of 2024, the digital asset industry faced 223 security incidents, leading to losses amounting to $1.43 billion, a drastic increase compared to the $920 million lost in the same period in 2023.
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SlowMist highlights that decentralized finance (DeFi) was the most attacked sector, with 158 incidents accounting for nearly 71% of all cases and $659 million in losses. This represents a 37.29% increase in losses compared to the first half of 2023.
SlowMist identifies contract vulnerabilities and exit scams as the primary causes of these exploits, responsible for 56 and 50 incidents, respectively. The escalating losses and recorded incidents underscore the growing need for enhanced security measures in the crypto ecosystem.