Dan Haj’s Post

📣 A very special announcement from Immunefi and the Ethereum Foundation! For the first time in its history, the foundation has partnered with an external security partner that can truly facilitate the largest ever security event! The "#Attackathon" is a large-scale crowdsourced security audit competition aimed at challenging and enhancing the Ethereum network's security. Immunefi undoubtedly has the largest #Web3 security community, boasting more than 45,000 researchers. We've awarded over $100 million in #BugBounties, the highest in the industry, and currently safeguard $190 billion in user funds. I'm truly excited to be a part of this journey and witness the impact this collaboration will have on the future of #Ethereum (and #ETH 🚀 🌚 ). Stay tuned for more updates as we work together to push the boundaries of blockchain security.

🚨 Crypto Hacks and Scams Surge in Q2 2024: Troubling Trends The second quarter of 2024 has been tumultuous for the crypto industry, with the latest Immunefi report revealing a significant surge in hacks and scams. 📊 Over 72 incidents resulted in losses totalling $572.7 million, marking a staggering 70.3% increase from the $336.3 million lost in the previous quarter. This is almost double the $265.5 million lost in the same quarter of 2023. 👇 Major incidents impacting both #CeFi and #DeFi platforms have dominated headlines. CeFi platforms were hit particularly hard, accounting for $401.4 million or 70% of the total losses, compared to DeFi’s $171.3 million. 📝 The quarter was marked by two major incidents: a $305 million breach of DMM Bitcoin, a Japanese #cryptocurrency trading platform, and a $55 million theft from the Turkish exchange BtcTurk on June 23rd, together constituting 62.8% of all losses. 📉 May 2024 recorded the highest losses of the quarter, with $358.5 million disappearing. Despite these massive losses, only 5% ($28.7 million) was recovered, illustrating the limited success in tracing stolen funds. 🔍 Hacks were the predominant cause of these losses, amounting to $564.2 million across 53 cases, representing 98.5% of all funds lost. Scams accounted for the remaining 1.5%, valued at $8.5 million over 19 incidents. 📈 Ethereum and BNB Chain were the most targeted networks, with 34 incidents on Ethereum alone accounting for 46.6% of total losses. BNB Chain followed with 18 incidents, making up 24.7% of the losses. Other networks like Arbitrum, Blast, Optimism, Solana, Polygon, Fantom, Linea, Mantle, and TON also experienced smaller-scale incidents. #Web3 #Web3Security #CryptoLosses

The journey to secure the Web3 ecosystem continues to gain momentum, with Immunefi recently surpassing $100 million in payouts to security researchers and still a staggering $163 million in available rewards waiting to be claimed 🤑 This significant amount is a testament to the collective efforts of our community in safeguarding $190 billion in user funds 💰🔒

Excited to announce that we will be attending the Ethereum Community Conference, #EthCC, in Brussels from July 8th to 20th! EthCC is the largest annual European Ethereum event focused on cutting-edge technology, bringing together brilliant minds shaping the future of this revolutionary ecosystem. At Immunefi, we are committed to building a secure future for decentralized finance (#DeFi) through our bug bounty platform and unparalleled code reviews. We incentivize ethical #hackers to help make #crypto projects more resilient. We eagerly anticipate connecting with various communities, developers, and enthusiasts, sharing insights into the latest security vulnerabilities, and discussing how we can collaboratively raise the bar for security across the entire ecosystem. If you'll be at EthCC, we'd love for you to visit our booth and learn more about how Immunefi is pioneering a new model for Web3 security. Alternatively, feel free to scan the QR code and we can meet!

Largest ever! 🚀