The year 2024 witnessed a significant rise in cryptocurrency scams and hacks. Over $1.2 billion worth of crypto has been stolen from various blockchain platforms and centralized exchanges.
Centralized Exchanges: The Prime Target
Centralized exchanges have been the main target for hackers, accounting for 50.13% of the total losses, amounting to $640 million. One of the year's largest incidents was the attack on Japan's DMM Bitcoin exchange, resulting in a $300 million loss.
Ethereum: The Leading Blockchain Under Siege
Ethereum, known for its DeFi applications, lost $228.6 million, which is 17.91% of the overall funds stolen. The network's high popularity and usage also render it vulnerable to attacks.
Attacks on Other Platforms and Networks
Smaller blockchain platforms also fell victim to attacks, incurring a total loss of $127.25 million. For instance, the Blast network experienced vulnerabilities in its infrastructure, leading to $64.35 million in losses.
The increased incidence of attacks on cryptocurrency networks in 2024 has become a significant issue for the industry. Enhanced security measures are now a top priority to safeguard users and their assets.
