The latest data reveals that centralized exchanges were the primary targets, reversing a previous trend of declining losses.
Hacks were the primary cause of losses, accounting for $564,238,811 from 53 incidents, a 155% increase from the previous year.
Cryptocurrency theft escalated dramatically in the second
quarter, with losses from hacks and scams soaring by 112% to a staggering $572
million, the latest data revealed. This sharp increase followed a period of
decline, highlighting a troubling resurgence in malicious activities targeting
the crypto community, especially centralized exchanges.
Escalating Crypto Losses
Immunefi, an on-chain crowdsourced security platform,
reported that the total losses amounted to $572,688,861, marking a significant
rise from the $265,481,519 lost in the second quarter of last year. Centralized
exchanges were the main victims, reversing the previous trend of declining
losses.
The majority of the losses resulted from two major
incidents. DMM Bitcoin, a Japanese crypto exchange, suffered a colossal $305
million loss, while Turkey’s largest cryptocurrencyexchange, BtcTurk, reported
a $55 million loss. These two events alone accounted for 62.8% of the total
losses in Q2.
Crypto Losses YTD, Source: immunefi
Hacks continued to dominate as the primary cause of
crypto losses. Out of the total $572,688,861 lost, $564,238,811 resulted from
hacks across 53 incidents, representing a 155% increase compared to the same
period last year. Fraud, including scams and rug pulls, accounted for a smaller
portion, with $8,450,050 lost across 19 incidents. This represents an 81%
decrease from the same period of last year.
Centralized Finance (CeFi) platforms were the main
targets, suffering 70% of the total losses, while Decentralized Finance (DeFi)
platforms accounted for the remaining 30%. CeFi platforms experienced a
staggering 984% increase in losses, with $401,400,000 lost across five
incidents. In contrast, DeFi platforms saw a 25% decrease, with losses totaling
$171,288,861 across 62 incidents.
Most Targeted Blockchains
Among the most targeted blockchains, Ethereum and BNB
Chain were the most targeted blockchain networks in Q2 2024. Ethereum faced 34
incidents, representing 46.6% of the total losses, while BNB Chain witnessed 18
incidents, accounting for 24.7% of the losses. Other chains, such as Arbitrum,
Polygon, Solana, and Fantom, experienced fewer attacks but still contributed to
the overall losses.
Major Losses, Source: Immunefi
Despite the high volume of losses, there were some
successes in recovering stolen funds. Approximately $26,736,000, or 5% of the
total losses, was recovered in Q2 2024, a slight improvement from the 3.9%
recovery rate in Q2 2023. This indicates progress in tracking and reclaiming
stolen assets, although challenges remain.
Cryptocurrency theft escalated dramatically in the second
quarter, with losses from hacks and scams soaring by 112% to a staggering $572
million, the latest data revealed. This sharp increase followed a period of
decline, highlighting a troubling resurgence in malicious activities targeting
the crypto community, especially centralized exchanges.
Escalating Crypto Losses
Immunefi, an on-chain crowdsourced security platform,
reported that the total losses amounted to $572,688,861, marking a significant
rise from the $265,481,519 lost in the second quarter of last year. Centralized
exchanges were the main victims, reversing the previous trend of declining
losses.
The majority of the losses resulted from two major
incidents. DMM Bitcoin, a Japanese crypto exchange, suffered a colossal $305
million loss, while Turkey’s largest cryptocurrencyexchange, BtcTurk, reported
a $55 million loss. These two events alone accounted for 62.8% of the total
losses in Q2.
Crypto Losses YTD, Source: immunefi
Hacks continued to dominate as the primary cause of
crypto losses. Out of the total $572,688,861 lost, $564,238,811 resulted from
hacks across 53 incidents, representing a 155% increase compared to the same
period last year. Fraud, including scams and rug pulls, accounted for a smaller
portion, with $8,450,050 lost across 19 incidents. This represents an 81%
decrease from the same period of last year.
Centralized Finance (CeFi) platforms were the main
targets, suffering 70% of the total losses, while Decentralized Finance (DeFi)
platforms accounted for the remaining 30%. CeFi platforms experienced a
staggering 984% increase in losses, with $401,400,000 lost across five
incidents. In contrast, DeFi platforms saw a 25% decrease, with losses totaling
$171,288,861 across 62 incidents.
Most Targeted Blockchains
Among the most targeted blockchains, Ethereum and BNB
Chain were the most targeted blockchain networks in Q2 2024. Ethereum faced 34
incidents, representing 46.6% of the total losses, while BNB Chain witnessed 18
incidents, accounting for 24.7% of the losses. Other chains, such as Arbitrum,
Polygon, Solana, and Fantom, experienced fewer attacks but still contributed to
the overall losses.
Major Losses, Source: Immunefi
Despite the high volume of losses, there were some
successes in recovering stolen funds. Approximately $26,736,000, or 5% of the
total losses, was recovered in Q2 2024, a slight improvement from the 3.9%
recovery rate in Q2 2023. This indicates progress in tracking and reclaiming
stolen assets, although challenges remain.
Deutsche Börse’s 360T Plugs Bitpanda Into FX Network to Channel Institutions Into Crypto
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
