- A total of $502,522,934 was lost across 223 onchain security incidents in Q1 2024.
- This represents a 54% increase in value lost compared to Q1 of 2023’s total of $326 million, though a minor 3.8% decrease from Q4’s losses of $522 million.
- January was the most costly month of the quarter, with $193,132,537 lost in 78 onchain security incidents.
- Private key compromises were once again the most costly attack vector, with $239,037,879 lost in just 26 incidents. This again represents nearly half of all financial losses, though key compromises accounted for just 11.7% of all security incidents.
- Ethereum experienced the highest number of security incidents, with a total of 131 hacks, scams, and exploits leading to $139 million in losses.
- $77,970,073 of value was ultimately returned, with the majority of this figure coming from the Munchables incident.
- Hack3d investigates the ongoing prevalence of private key compromises, as well as Solidity rounding error exploits, the unprecedented inflows to the recently-approved Bitcoin ETFs, major financial institutions’ forays into onchain finance, and the effects of Ethereum’s successful Dencun upgrade on scaling L2s.
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