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Cryptocurrency hacks cost over 2.3 billion USD in losses for 2024

A total of 165 CYBER attacks were reported in 2024, marking a 40% increase compared to the previous year. This highlights the persistent vulnerabilities within the cryptocurrency sector despite lower overall losses than in prior years.

Access control vulnerabilities accounted for 81% of total losses from hacks, underscoring the critical need for robust security protocols. Notably, even audited smart contracts suffered breaches, revealing flaws in current assessment measures.

Notable incidents included WazirX losing approximately 234.9 million USD and DMM Bitcoin suffering a 320 million USD loss. These events demonstrate the urgent need for enhanced protective measures in the rapidly evolving crypto landscape.

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